- The Japanese yen was trading worse than expected as investors begin to sell the safe-haven currency. There has been an increase in investors buying equity and therefore less people investing in the yen due to the cabinet resignations in the Japanese Government. The Prime Minister of Japan Shinzō Abe said that the economy is a ‘work in progress’ and that he knew that increasing sales tax in the second quarter of this year had pushed the economy back into recession.
- It was a very quiet day for the Canadian dollar, which slightly weakened throughout the day against the pound, as it gears up for an important week. On Wednesday we will see both retail sales data out, and – more importantly – the monthly interest rate decision, which is expected to remain at 1%, although any change would create a big swing for the currency.
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