020 7898 0500- The Canadian Dollar has had a mixed week, from highs almost touching 1.76 against the pound to above 1.78 on Thursday. It has been a turbulent week and is not over yet as Consumer Price Index (CPI) data is released today at 1.30, forecast to remain at 0.2%. the major news was that Canadian wholesale trade increased 1.8%. As this was forecast at 0.8%, the final figure showed a good gain for the Canadian dollar.
- Concern continues to mount for the Japanese yen as there seems to be a difference in policy with the Bank of Japan interest rates remaining at 0% threatened by fears of economic tightening by the US Federal Reserve. There are also other areas of concern for the Japanese economy, namely being back in recession, the political uncertainty with the election in December, and the Japanese sales tax coming in next year. The momentum continues to go against the yen and it hard to see how much longer the people of Japan will be able to bear the ongoing depreciation of their currency.
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