01:30 Australia RBA Monetary Policy Statement

05:00 Japan Eco Watchers Survey: Current April 57.3 59.2 56.5

05:00 Japan Eco Watchers Survey: Outlook April 57.5 57.8

The yen extended its decline to beyond 101 per dollar after a report showed Japanese investors became net buyers of foreign bonds, snapping the longest selling streak since January 2010. Japanese investors were net buyers of foreign bonds in the past two weeks, after six-straight weeks of sales, Ministry of Finance statistics showed today. They bought a net 309.9 billion yen ($3.1 billion) of foreign bonds in the period to May 3, and 204.4 billion yen's worth the week before.

Japan's currency fell versus all but 2 of its 16 major peers as the data supported speculation that stimulus measures spearheaded by Bank of Japan Governor Haruhiko Kuroda and Prime Minister Shinzo Abe are driving domestic investors to seek higher returns overseas.

Australia's dollar dropped toward parity with its U.S. counterpart after the Reserve Bank cut its benchmark interest rate to a record low this week. Australia's central bank reiterated its concerns about the currency today in its quarterly monetary policy statement, as it lowered its inflation outlook for this year to 2 percent from as much as 3 percent three months earlier.

EUR / USD: during the Asian session, the pair traded in the range of $ 1.3020-45

GBP / USD: during the Asian session, the pair traded in the range of $ 1.5435-55

USD / JPY: during the Asian session, the pair rose to Y101.20