The Yen index continued to rise overnight as the markets absorbed news from the two day meeting of the Bank of Japan, with the general tone being one of disappointment, and the yen (FXY, quote) strengthening as a result.
The International Monetary Fund (IMF) on Monday announced its board decision to amend the rounding methodology for determining currency accounts in the Special Drawing Right (SDR) basket, in order to make technical preparations for the inclusion of the Chinese currency, Renminbi, in the SDR basket.
It was yet another interesting week for the USD, which continued to remain firmly in the control of the bears, with the pair closing the week on a wide spread down candle as pressure continues to build on the pair.
The USDJPY pair initially fell during the course of the session on Friday, but turned back around to form a bit of a neutral candle.
USDJPY has been trending lower in the past few days, moving below a descending trend line on its 1-hour time frame.
Today’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data
Today’s Key Economic Data
