Monday 11 September 08:15 UK time

The big news over the weekend was from Japan and governor Ueda pulling out the verbal bazooka by saying that a quiet exit from easy monetary policy is appropriate. This have given the JPY strength against everything. If Japan does tighten it's policy, it will most likely be a while off and once the dust settles, I still think the JPY will be shortable on an interest rate differential basis. But for now, looking at the USD JPY chart, there isn't any meaningful support until the 145 figure.

In other news, china is doing it's best to bolster the yuan, which is boosting the commodity currencies Vs the USD. It really is a one two blow for the dollar so far today.

There are a couple of BOE speakers due, it will be interesting to see their comments following the inflation comment last week.

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