The Asian Session saw USDJPY recover from 111 lows of Wednesday, to 112.55 after BOJ official stated that cheap Yen might hurt the economy.
China on the other hand has dropped 6% while Japans Nikkei closed positive 1.41% after reports that the government is considering an increase in spending to support the economic growth.
GBP/USD continues to be under pressure on Brexit fears. A Bloomberg survey showed said that there is a 40% probability of an economic recession should a Brexit happen
NZD and CAD are now the strongest major currencies this week with European the weakest ones.
Last night, saw a reversal in Wall Street, and stocks closed positive after oil prices stabilized. As a result Gold reversed its spectacular gains to 1253 earlier and dropped as low as 1220. It trades now at 1236.
Data wise, we have a light calendar today so markets will look forward to the G20 meeting tomorrow in Shanghai where IMF’s Lagard’s, is hoping for a “strong policy response, both national and multilateral: if threats to economy persist.
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