– Market holidays on Monday resulted in one of the lowest volume days of the past 12 months.
– JPY was the clear stand-out as activity was maintained above the average of the past year, while all other G10 currencies posted exceedingly low volumes.
– USD/JPY broke below range lows with an increase in volumes. The jump in investor interest to sell points to further weakness.
– AUD/JPY and GBP/JPY also broke range lows on an increase in volume as the JPY attracted broad buying interest at the beginning of the week.
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Barclays