After an incredibly busy week, the lack of top-tier data releases and a relatively slow news cycle this week had FX traders moving mostly sideways and sticking to central bank and inflation developments. Threats of currency intervention was a top focus, and lots of jawboning from the Bank of Japan barely stopped JPY bears from going ham on the currency. The Swiss franc also had an uber-weak start following last week’s SNB’s surprise rate cut. Both JPY and CHF found support in the second half of the week, however. Commodity-related currencies saw mixed performances with AUD and NZD not finding sustained support from the PBOC’s strong yuan fixing, while CAD benefited from higher crude oil prices and relatively strong Canadian data. How did your favorite currencies fare in the last few days? Let’s take a closer look. Commodity-related currencies saw mixed performances, with AUD and NZD not finding much support from the PBOC’s strong yuan fixing while CAD benefited from higher crude oil prices and relatively strong Canadian data. How did your favorite currencies fare in the last few days? Let’s take a closer look.
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