The USD was mixed this week.
If you took the % changes of the major currencies vs each other and cumulated the changes, the JPY was the strongest - rising against all the major currencies. The GBP was the weakest - falling against all the major currencies.
How did the USD do?
It was mixed.
The greenback rose by:
- 1.14% vs the GBP
- 0.91% vs the EUR
- 0.71% vs the CAD
It was lower by:
- -1.25% vs the JPY
- -0.66% vs the CHF
- -0.45% vs the AUD and
- -0.07% vs the AUD
With the GBP the strongest and the JPY the weakest, that makes the GBPJPY the biggest moved on the week.
Looking at the daily chart below, the pair trended lower starting from just above the 200 day MA at 149.49 (the high was at 149.71), and moving down toward the low for the year at 144.97 (the low reached 145.27 today). The pip decline from last Friday's close was 353 pips.
Catalysts for the move?
- Brexit concerns
- Flight into the relative safety of the JPY.
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