Japanese Yen Stays the Weakest Major Currency

Market Reviews

The British pound and the US dollar are strengthening due to the latest monetary policy decisions of the Bank of England and the Fed. Commodity currencies remain the strongest at the end of the week. The Japanese yen remains the weakest currency for the week.

As expected, the Bank of Japan left its monetary policy unchanged. The interest rate remains at -0.1%. The asset purchase program of the bank remained at JPY 80T. The central bank of Japan noted that the situation with incomes and employment in the country is improving.

The Eurozone CPI fell to 1.4% yoy. Housing starts in the US declined to 1.09 million in May. Building permits fell to 1.17 million.