The JPY has been an outperformer. AUd and NZD have lost against the dollar but even more so against JPY. JPY crosses are down pretty much across the board.

This was a notable item earlier:

• Japan is preparing to officially declare an end to long-term deflation

Also weighing are data from China:

• China Jan/Feb USD denominated exports +2.3% y/y (vs. +5.0% expected) – disappointing miss

This article was written by Eamonn Sheridan at www.forexlive.com.

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