A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
FILE PHOTO: A worker holds samples of new Japanese yen banknotes at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about the new notes scheduled to be introduced in 2024, in Tokyo, Japan, November 21, 2022.
Particular attention will be paid to China's 'unofficial' Caixin PMI report, a day after 'official' PMI data showed that factory activity unexpectedly contracted in October. Not only that, it shrank faster than the most pessimistic prediction in a Reuters poll had forecast. But if the yuan is under pressure, it is nothing compared to the onslaught Japan's yen is facing. After the Bank of Japan on Tuesday scrapped the 1 per cent ceiling for the 10-year government bond yield, the yen sank to a new one-year low against the dollar and a fresh 15-year low against the euro.
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