Commodity backed currencies consolidate

Elsewhere on Friday, after surging to three month highs against the US dollar following the Federal Reserve’s announcement, both the Australian and Canadian dollars paused for consolidation. The Canadian dollar dropped for the second consecutive day as inflation data showed consumer price levels had cooled throughout August, meaning policy makers are less likely to increase interest rates over the coming months. We also saw the Japanese yen bounce back slightly from the weakness it showed earlier on in the week. Looking forward, we have a speech from the governor of the Swiss central bank this afternoon. Later  in the week we have inflation data out of Canada, and trade balance and business confidence figures out of New Zealand. Get in touch for live rates