The Japanese yen recovered from two-week lows this week, as the first case of Ebola in New York City – a major financial city – was confirmed on Friday. The Yen had been expecting a poor week against the US Dollar, thanks to US Treasury yields, solid inflation and jobless claims data, but the ongoing worries over ISIS and the health of the world economy on the whole at the current time generally mean that it can take very little news or change of sentiment to rattle market confidence.
It was an up and down week for the Canadian dollar as it generally stayed strong against its major peers. The currency was strengthened on the back of the Bank of Canada’s removal of forward guidance and its neutral bias, as well as oil prices finally stabilising. The shootings in Parliament this week left the Canadian dollar on the edge last week, as a post-meetings press conference was cancelled. Looking forward to next week there is important GDP data out on Friday – with any increase on last time’s figure of 0% proving Canada is heading in the right direction.
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