The Yen enjoyed some strength today as Nikkei Asia broke a story that the BoJ are debating a further tweak to YCC policy. Will the BoJ follow through and what does that mean for USD/JPY?
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The Yen enjoyed a brief moment of strength in the Asian session, largely on the back of Dollar weakness. USD/JPY continues to hover around 146.50 resistance as bears lack conviction.
The Bank of Canada looks on course to hold rates steady once more. This coupled with a rebound in the Dollar has weighed on the Canadian Dollar, while the long-held view regarding correlation between Oil prices and the CAD continues to be tested.
Cable appears to have run out of steam as retracement signals start to pile up. Are we in for a fresh leg lower before a continuation of the overall trend to the upside?