• The dollar was little changed against major currencies on Tuesday as traders brushed off encouraging Japanese inflation data and Bank of Japan minutes that signalled policy-makers favoured sticking to a loose monetary policy.
Currency trading volume was light as London and many major financial centres remained closed after the Christmas holiday.
The dollar held steady at $113.16 yen and flat versus the euro at $1.1863
• Among cryptocurrencies, bitcoin gained 14 percent following last week’s selloff. It was last at $15,885.00 after trading as high as $16,147.87 on Bitstamp.
• The market had a muted reaction to data released early on Tuesday which showed that Japan’s core consumer prices rose for the 11th straight month, up 0.9percent year-on-year, and household spending jumped in November.
While the inflation rate remains distant from the Bank of Japan’s 2 percent target, the rise offered some hope that a steady economic recovery will gradually drive up prices.
• Minutes of the BOJ’s October meeting, released on Tuesday, showed most members shared the view that the central bank should maintain its easy policy.
• Oil prices touched two-and-a-half year highs in light volume on Tuesday, boosted by an explosion on a crude pipeline in Libya and voluntary OPEC-led supply cuts.
Brent crude LCOc1, the international benchmark for oil prices, rose $1.51, or 2.31 percent, to $66.76 a barrel by 11:40 a.m. (1640 GMT.) Prices hit a session high of $66.83 a barrel, the highest since late May 2015.
U.S. crude CLc1 climbed $1.29, or 2.21 percent, to $59.76 a barrel after touching a session high of $59.86, the highest since late June 2015.
• Libya has lost around 90,000 bpd of crude oil from a blast on a pipeline feeding Es Sider port, a Libyan oil source said, adding that NOC was still assessing the damage.
Reference: Reuters
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