Daily currency report

In a move that had been widely anticipated, the Bank of Japan has voted unanimously to keep interest rates on hold at 0.25 per cent. The news came following soft core consumer price data, which rose only 0.1 per cent from last year. Elsewhere, another disappointing session for the sterling, which ended the day down against the other majors in the absence of any significant data releases.

GBP
The sterling fell for the fourth consecutive day against the greenback and for the first time in at least three days against the euro and Japanese yen, with no data released to support the pound.

USD
The dollar gained against most major currencies as traders began squaring their FX positions amid decreasing trading volume and the approach of year-end holiday. Prior to the opening of US capital markets, the Commerce Department released its Q3 current account balance, swelling to a record $225 billion, representing almost seven per cent of GDP.

EUR
A stronger eurozone trade surplus in the month of October lent support to the single currency for the first time in three trading sessions, and allowed the euro to post gains against both the US dollar and the sterling.

JPY
The Bank of Japan left its base rate of interest unchanged at 0.25 per cent. The vote was unanimous following a two-day policy meeting, and was consistent with monetary policy since the central bank ended its zero interest rate policy in July.