Page 7 - Sector Net Borrowing News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Euro is currently the weakest major currency in very quiet markets today, with little of note from the economic calendar. Meanwhile, other European majors are soft too, with Sterling just performing slightly better than Swiss Franc. Meanwhile, the rebound in metal prices is helping Aussie recover, while Kiwi is following. Yen is reversing earlier selloff but there is no sign of a sustainable rebound yet. The markets might just wait for tomorrow's PMI data from major economies to come back to life.

Tuesday is set to be a quiet day in terms of corporate earnings and economic data, with Wood Group the only major UK-listed company expected to release results.

British Pound is making broad recoveries following stronger than anticipated retail sales, although signs of a durable rebound remain elusive. Concurrently, Japanese Yen displayed general weakness. Despite solid inflation data from Japan, the figures were not robust enough to force a policy shift from BoJ. Australian and New Zealand Dollars trailed as the next weakest, while Dollar pared some of its gains following yesterday's rally. Canadian Dollar remained mixed, as investors anticipate retail sales data from Canada.

Japanese Yen experienced a sharp fall today after reports emerged suggesting that BoJ is "leaning towards" maintaining its current yield curve control policy unchanged in the upcoming meeting next week. The development has come in the wake of Japanese inflation data for June, which showed a relatively unchanged yet high level. Notably, 10-year JGB yield is presently trading comfortably below 0.5%, eliminating any necessity even to adjust the yield cap. This has intensified the pressure on Yen, leading to a significant downward shift.

Investors' focus on Thursday would be on another raft of US economic data.