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The Japanese yen was a net winner for the week on not a lot of major geopolitical headlines or positive Japanese economic updates. It’s likely counter currency weakness played a big role in the yen’s relative strength as speculation grows that major central banks will be increasing stimulative policies to combat softening global economic data and global trade uncertainty remains.

Overlay of Inverted JPY Pairs: 1-Hour Forex Chart
Overlay of Inverted JPY Pairs: 1-Hour Forex Chart

Japanese Headlines and Economic data

Monday:

Tuesday:

  • We saw a broad rally in yen pairs on Monday and Tuesday, and with no major geopolitical catalysts or Japanese data, the rally was likely a global risk sentiment move to negative after a slew of PMI updates from around the world largely disappointed (Global Manufacturing PMI at lowest level since October 2012)

Wednesday:

Friday: