The Japanese Yen showed some resilience this past week after persistent weakness since the beginning of this year. Still, it remains a long road ahead for USD/JPY and GBP/JPY to meaningfully reverse lower.

EUR/USD on track for a sixth successive week of declines as ECB council communicate caution on rates due to a fragile economy. EUR/JPY vulnerable

The Australian Dollar steadied the ship last week but although it is languishing against a US Dollar that continues to gain ground on the Fed maintaining the tight policy mantra.

GBP/USD is going into the weekend on the back foot as the dollar picks up a small bid after Jerome Powell’s Jackson Hole speech.