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Forex pairs in this Article » USD/JPY (Barcelona) - The Australian dollar held reasonably well in the face of a weaker than expect Q4 CPI report - "although it was a little soft, our Australian economics team doubt it will be enough to trigger a rate cut from the RBA in February." notes Research Analyst Gareth Berry at UBS.

Meanwhile, a news vacuum out of Japan left an eerie silence in the wake of Tuesday's Bank of Japan policy decision, which allowed investors to dwell on the disappointing aspects of the policy maneuver. Press reports in both the Wall Street Journal and the Nikkei newspaper turned more skeptical too, and the USDJPY stayed heavy throughout the overnight session.
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