National Bank Canada's (NBC) Stéfane Marion and Kyle Dahms highlights that the Canadian Dollar (CAD) has been the weakest reserve currency recently, with USD/CAD back near 1.39. They link this to Canada’s deteriorating real growth, negative Canada–U.S. 2‑year spreads and falling Gold prices.
UOB’s Quek Ser Leang and Lee Sue Ann note USD/JPY held above 160.00 and closed modestly higher around 160.25. Intraday, mild upward momentum points to a move toward 160.50, with major resistance at 160.75 unlikely to be threatened immediately.
The Japanese Yen (JPY) extends losses against the US Dollar (USD) on Monday, with the USD/JPY pair trading at 160.30 at the time of writing.