Yen Slips against the Majors

The Japanese Yen saw a bearish trading session yesterday, losing ground against most of its currency crosses. The JPY fell against the USD and closed at 88.20, while the EUR/JPY cross rose to around 132.85.

The yen was under pressure for the second straight day after the Bank of Japan said this week it would further ease monetary policy in order to combat a surging yen and dropping prices. The dollar fell to a 14-year low of 84.80 on Friday. Japanese officials then had mentioned intervention as a possibility in order to weaken the yen. But this week's action plans to offer about 10 trillion yen ($115.8 billion) in short-term loans to commercial banks to boost liquidity and maintaining the key interest rate at 0.10% could help weaken the yen without resorting to selling the currency. 

Dollar Falls after Bernanke's Speech

Depreciation of the dollar after Bernanke's speech

Bernanke did not suggest in his speech to the timing of any expected interest rate hike, although there is a need to determine the timing of the tight monetary policy after the introduction of central bank liquidity into the economy during the financial crisis last year. The U.S. economy is still at the stage of recovery, with a high unemployment rate to 10%. At present, there is a lot of concern about inflation and thus diminishing opportunities to raise interest rates in the near future.

Federal President's remarks helped to support the euro / dollar, which led to the suspension of the dollar, which began on Friday after better-than-expected reading, which stated the report of the Employment Non-Farm. This has required significant decline in other currencies against the dollar, which traders have their purchases of these currencies, which increased the momentum of the bearish price movement of currencies. But today, we have witnessed a long-term upward trend as the euro rose strongly against the dollar.

The pair is trading now at 1.4840 after it was directly below the level of 1.4800 before Bernanke's speech. At the beginning of the day, the EUR / USD traded at its lowest level in five weeks. The pound fell against the dollar circulates at the level of 1.6452, down from the opening price at the level of 1.6476.

Canadian dollar will be the focus of traders during the trading day, which will be announced on the Bank of Canada interest rate decision which is expected not to change this time, will be announced on the accompanying statement of the interest rate decision. This may include the explanatory statement of any hints of the future direction of monetary policy in Canada. May go negative tone in the statement accompanying the rate decision of Canada to pay U.S. dollar / Canadian dollar to fall more towards the 1.0400 level today.

The Australian dollar bounce before U.S. jobs data

The Australian dollar bounce before U.S. jobs data

Yesterday after a steep drop against the dollar and Australian dollar recovered today is moving towards another weekly rise against its U.S. counterpart as likely to report employment figures and appropriate job in the world's largest consumer of energy, increased demand for commodities related to the dollar.

The Australian dollar clawed back some losses yesterday against the U.S. currency, which is still positive in the comparison of weekly versus the dollar has benefited from the presence of a strong risk appetite in the beginning of the week when concerns about the state-owned investment agency Dubai International cooled, and the UAE Central Bank affirmed that will not be back debts. On the day the decline in commodity markets yesterday, which negatively impacted on the prices of the Australian dollar, but today, employment in the United States, a report is likely to indicate an improvement in working conditions and forecasts reduced employment opportunities in the lowest level in more than a year, which indicates to end up in the direction opposite employment trends that may lead to a higher risk appetite among traders.

Australia is still very attractive and data on employment in the United States will be necessary to identify trends between these two currencies, according to most specialists. Australian dollar despite the appeal and consider the chain to raise interest rates, has its U.S. counterpart as well as become more attractive, and end the long march to the Australian dollar.

Office of the Inspector General / USD at 0.9249 in circulation as of 10:11 GMT from 0.9131 on Monday. Office of the Inspector General / trading at 81.58 yen from 79.03 at the beginning of the week.

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