TIBOR

JPY began the new year as the one of the biggest losers among the major currencies. likely driven by a positive lean in broad risk sentiment.

JPY was the biggest loser, & It’s likely positive risk sentiment was the major driver as traders leaned positive after another round of optimistic covid vaccine/treatment news.

It looks like NZD was the top dog this week, likely on positive leaning risk sentiment & the very positive New Zealand jobs report. 

Negative pandemic developments was the main theme, benefitting JPY the most. The yen managed to hold on to the top spot among the major currencies despite a risk-on rally on Friday.