22:45 UTC New Zealand Trade Balance rises to NZ$718M M/M NZD/USD jumped from 0.8495 to 0.8520 after stronger than expected trade figures were reported for the month of March. Expectations had been for a decrease to 375M vs 414M in the previous month.
23:30 UTC Japan March Core Consumer Prices Fall to -0.5% No reaction to Yen pairs after Japanese CPI y/y came in better than expected. The forecast was for a drop to -0.4% from -0.3%.
The first half of the Asian session was subdued with currencies trading in narrow ranges. As the session progressed the US Dollar slowly started to lose its footing. Gbp/Usd retested the 8 am NY high of 1.5450, pressing to a fresh high of 1.5475.
After spending most of the session trading around 99.35, Usd/Jpy slipped to 98.60 on reports of Chinese ships entering into Japanese waters near disputed islands. Japanese and Chinese defense officials are set to meet as tensions are flaring.