Fundamentals:
The Yen weakened after a media report fuelled speculation that the GPIF will raise its target for foreign bonds and shares close to the 30% marker from previous levels of 23%. On top of this we had BOJ Governor Kuroda reiterating that policy makers would maintain monetary easing until the inflation rate stabilizes at 2 percent. We will look to trade the Yen against the AUD following a Chinese head of state commentating that the PBOC is planning to subsidise several lenders which is likely to lead to bullish moves in the AUD.
