The Japanese Yen finally showed signs of life as it rallied strongly against the US Dollar and other major counterparts, but lack of action from a highly-anticipated G20 meeting gave traders the “green light” to continue selling into JPY weakness.
The British Pound struggled to hold its ground as Fitch Ratings lowered the U.K.’s AAA credit rating to AA+, and the GBPUSD may continue to give back the rebound from 1.4830 should it fail to maintain the upward trending channel carried over from the previous month.
The gold sell-off continued early this week with the precious metal plummeting more than 5.8% by the close of trade on Friday.
The New Zealand Dollar ended the week nearly 2.0 percent lower, a dramatic turnaround from previous weeks.
New to FX? Register for this free 20 minute course HERE and learn common FX terms like leverage and how to implement conservative amounts.
- Basic Materials Industry
- Utility Industry