NEW YORK: The yen weakened along with the Aussie in Asia on Thursday on comments from policy makers at both central banks and data in Australia that gave a mixed outlook ahead of a key European Central Bank meeting later in the day.
The Australian dollar traded stronger on Thursday early in Asia ahead of trade and retail sales.
AUD/USD traded at 0.7811, down 0.08%, while USD/JPY changed hands at 119.81, up 0.10%. The US dollar index was quoted at 96.02, up 0.04%.
EUR/USD changed hands at 1.1074, down 0.04%, in Asia.
Australia’s trade balance for January reached a deficit of A$980 million, wider than the A$950 million deficit seen, while retail sales for the same month rose 0.4%, matching expectations.
Separately, Reserve Bank Deputy Governor Philip Lowe said Thursday that more support on the monetary policy side may be required, hinting strongly the central bank may cut further from a record low 2.25% cash rate it held steady this month.
More support may be required, Lowe said at the Goldman Sachs (NYSE:GS) annual international macro-economic conference at Sydney. The RBA lowered the cash rate 25 basis points in February because it believed it appropriate to provide additional support to demand, Lowe said.
