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Forex Flash: Mr. Kuroda is officially nominated as BOJ governor - Nomura

Nomura Strategist Yujiro Goto notes that Mr Kuroda has been officially nominated BoJ leadership candidates today, as expected.

He writes, “There was no surprise. Haruhiko Kuroda (ADB governor) is nominated as BOJ governor, while Kikuo Iwata (Gakushuin University Professor) and Hiroshi Nakaso (BOJ Executive Director) are nominated as deputy governors.” Local media report that Kuroda is going to make a speech to parliament on March 4th and two deputy governors will speak to parliament on March 5th. Further, voting is expected to be held on March 15th in the Upper House. He finishes by writing, “. We expect the three candidates to be supported by parliament even though there will likely be some dissents against each.”

IMF will revise US outlook after the sequestration

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Forex: USD/CAD hits fresh 8-month high

The dollar took another step higher versus the loonie and reached a fresh 8-month peak during the American session, as the CAD weakened on the back off disappointing domestic data and broad risk aversion.
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