Forexlive Asia-pacific FX news wrap: Yen slumps as we await Ueda's debut

• New Bank of Japan Governor Ueda to hold inaugural press conference at 1015 GMT
• Australia, New Zealand and Hong Kong markets are closed today
• Japan February current account +2.197T vs +2.535T expected
• First Republic suspends dividends on preferred shares

Markets:

• Gold down $16 to $1991
• WTI crude oil down 14-cents to $80.55
• US 10-year yields down 1.3 bps to 3.37%
• S&P eminis down 1 point to 4130
• Nikkei 225 up 0.2%
• USD leads, JPY lags

There's something of a re-trading of non-farm payrolls ongoing as the market starts to reopen from holidays and that's led to a slump in the yen across the board on prospects for a higher-for-longer scenario in most developed countries.

There are also significant Japan-centric risks in the hours ahead with new BOJ governor Ueda to hold is first press conference.

The mood has been choppy with initial risk aversion -- perhaps on US banking worries -- followed by a quick improvement and the a sag as Tokyo ramped up.

Europe will be quiet as holidays continue and the US calendar later is light so it's going to be a grinding start to the week.

This article was written by Adam Button at www.forexlive.com.

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