Morning Bid: Yen vigil keeps markets on edge
© Reuters. FILE PHOTO: A Japanese 1,000 yen banknote and Chinese 100 yuan banknotes are seen in this picture illustration, in Beijing, China, January 21, 2016. REUTERS/Jason Lee/File PhotoAnother day, another warning from Tokyo has kept a check on the yen's slide, with the Asian currency ever so close to the 34-year low of 151.975 it touched last week, spurring repeated intervention warnings.
After the initial shock of a stronger-than-expected U.S. manufacturing data that cast doubts about the timing of interest rate cuts from the Federal Reserve, markets seems to be taking in stride the increasing evidence of the economy's strength. A slew of manufacturing activity data across Europe along with inflation data for Germany will also take the spotlight as investors assess the health of the region's economy.
A growing number of ECB policymakers have supported rate reductions, with a June meeting shaping up as the most likely time for action.
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