Japan Dec Machinery Orders (MoM) falls to 2.8% vs 3.9%

Following the news that BOJ Governor Shirakawa will step down on 19 March, almost a month before his official term ends, according to Nomura FX strategists Yujiro Goto and Yunosuke Ikeda, "we maintain our view that the yen would initially weaken if an academic were to become the next BOJ governor, and rally if a former MOF official were appointed."