JPY crosses again the focus of volatility

Jittery stock-markets and tumbling commodity prices ensured that the JPY crosses had a volatile week and I think we can expect more of the same this week. In terms of volatility that is; I’m really not sure which way they go but pairs like GBP/JPY and CAD/JPY should see plenty of two-way action.

The big events this week include US CPI, UK retail sales and MPC minutes, EZ PMI data, Australian and NZ CPI, and the BoC rate decision. The FX market will follow leads in US yields and oil markets.

I have no strong view at the moment and will wait and see how markets develop.

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