Japan Vehicle Production (YoY) down to -7.5% in April from previous -6.5%

The yen regained lost ground somewhat and emerged the strongest across the FX board mainly driven by Japan’s CPI figures which bettered expectations. The Aussie was also trading higher largely on a correction following the recent weakness. On the other hand, NZD/USD was the main laggard ad lost 0.72 handle after NZ business confidence eased in May while inflation expectations hit a new low.