Session Recap: Yen tops climbers on profit-taking ahead of BoJ

FXstreet.com (Barcelona) - Once again, the Yen finished the Asian session as the top beneficiary across the board, while the New Zealand Dollar was left behind as the main laggard, although losses were marginal. There was no much relevant news transpiring along Asian hours, with most traders either sidelined or taking profits on the Yen shorts ahead of the BoJ tomorrow, the big risk event this week.

Headlines in Asia (chronological order)

- Abe's adviser Hamada: BOJ should ease until USDJPY hits 100.00 - Caused the USDJPY to hit new highs at 90.21 before the sell-off.

- Bundesbank president critic on ECB's banks controller role

- Japan's government, BoJ close to announce joint monetary policy statement

- Merkel's CDU loses Lower Saxony election; setback to her national campaign

- Large banks such as UBS, Westpac, NAB or BBH all agree that risks on USDJPY for tomorrow's BoJ meeting are skewed to the downside, favouring a 'sell the fact' scenario.

- European finance ministers meet in Brussels later today

- Tensions escalate between Japan and China; Talk of warning shots

- USDJPY selling persists thru 89.60; 89.40 new low of the day

- German FinMin Schaeuble: Not ready to decide over aid for Cyprus