European Session Has Opened, BOJ Remains Market Mover


 The yen continues to hold on to gains from the Bank of Japan's (BOJ) latest move in its bond market.

This causes the movement of major currencies to remain limited amid the absence of catalysts to move the market.

Takatoshi Ito, a contender to replace BOJ Governor Haruhiko Kuroda, said the latest policy action could be the first step toward an exit from ultra-loose monetary easing.

However, Japan's Economy Minister Shigeyuki Goto argued otherwise, saying the action was not meant to be.

In the meantime, the dollar index continued to show a gloomy performance by trading below the 104.00 price level against a group of major currencies.

Investors' focus is now turning to the release of Canadian inflation data in the New York session which is expected to show price pressures continue to ease in November.

Ahead of the data release, the Canadian dollar traded little changed at around 1.3600 against the US dollar.

Meanwhile, the euro and pound currency trading also did not change much with each trading at 1.0627 and 1.2140 against the greenback dollar.

On the other hand, the Aussie and New Zealand dollars remained weak at around five-week and three-week lows against the USD.