BoJ and Davos were the major focuses of last week. Much volatility was seen in Nikkei, JGB yields, and Yen. As dusts settled, the Japanese currencies ended as the worst performer, but closed inside prior week's range. Australian Dollar was the next weakest after poor job data. Dollar was the third, after many Fed officials indicated their support for a 25bps hike in February. New Zealand Dollar ended the strongest despite Prime Minister Jacinda Ardern's surprised resignation. Sterling and Swiss Franc followed. But it should noted that Euro did stage a strong rebound against European peers after ECB President Christine Lagarde pledged to "stay the course", countering rumors of a slower rate hike. |