Japanese Yen (JPY)
The Yen gained versus the Dollar and the Euro as Bank of Japan's Governor Shirakawa stated he expects a slow economic recovery as prices keep declining. Japanese Retail Sales came out better at -2.5% versus -3.3% expected and Prelim Industrial Production also came out better at 1.9% versus 1.4% forecast. Housing Starts in Japan showed a bigger drop than expected of -32.1% versus -30.3%, indicating the deep recession in the housing sector isn't over. Overall USD/JPY traded with a low of 92.54 and with a high of 93.59 and EUR/JPY traded with a low of 132.15 and a high of 133.88. Japanese Monetary Base will be released overnight and is expected better at 6.6% versus 6.1% prior.