USDJPY MAKES ANOTHER ATTEMPT AT 100
– USD is broadly weaker as market starts to price in small risk of further stimulus & the G20 does not object to Japanese policies.
– CAD is strong, up 0.2% leading into today’s CPI release.
– EUR is strong, mainly on the back of EURJPY and relative monetary policy, which is likely to see EUR test up to the 100‐day MA at 1.3157.
– GBP rallies, benefitting from broad USD weakness and M&A activity.
– JPY is weak; as G20 does not oppose Japanese policies opening the door to further JPY weakness. Fin Min Taso publishes FT article.
– AUD rallies on broad USD weakness; but still well off last week’s highs.
– CNY is strong; the focus is on the risk of an imminent band widening.
Click here to read the full report: FX Daily
Scotiabank