Japan vows to shield US bond market
Japan’s economy minister has signaled readiness for FX intervention, citing the need to shield the US bond market.
The Japanese economy grew 2.1% in Q1, beating forecasts of 1.7%.
The USD/JPY approached 159, while the PBOC set the USD/CNY reference rate at 6.8375.
The RBA minutes showed eight of nine members backed a May hike due to growing inflation expectations.