The dollar was broadly higher in N.Y. trade on Friday, largely thanks to the BoJ, and its foray into NIRP. USD-JPY posted new trend highs of 121.69 in N.Y, before succumbing to a bout of pre-weekend, month-end position squaring. EUR-USD meanwhile, dipped to 1.0810 from early highs over 1.0920. The better risk backdrop allowed Wall Street to rally strongly, a USD positive, while the BoJ's easing move reminded markets it's the ECB's turn to ease next. USD-CAD ranged between 1.3970 and 1.4109, as the CAD once again followed the vagaries of the oil market.
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