There was a rise for the Japanese yen in the foreign exchange markets on Monday and into Tuesday.
The currency, which is seen by many analysts as a so-called “safe haven”, went up by 0.2% to 111.2 in its pair with the US dollar. This represented its third consecutive session of gains.
The US dollar itself continued its spell of bad luck. The dollar index, which tracks the greenback’s performance compared to six other currencies from around the world, went down 0.1% to 96.43. This came ahead of worries around what sort of view the Federal Reserve will take when it meets later today and makes its announcement tomorrow.
Despite ongoing political instability in the UK, the pound went up by nearly 0.2% in the GBP/USD pair. It reached $1.3274.
However, it did suffer some problems after John Bercow, the Speaker of the House of Commons, said that Prime Minister Theresa May would need to get substantial changes to her proposed Brexit deal in order for parliament to vote on it again.
This week looks set to be a busy one on the foreign exchange calendar.
Today (Tuesday), there will be factory orders data out of the US for the month of January. It is expected that this will show a shift from 0.1% to 0.3% when released.
At 11.50pm, the Bank of Japan’s monetary policy meeting minutes will be released.
Into tomorrow, there will be a leading economic index release from Japan covering January at 5am GMT. This was last recorded at 95.9.
British retail price index information for February will be released at 9.30am GMT. This is expected to show a change from -0.9% to +0.7%.
Producer price index information for February will also be out then. In input terms, it is expected that there will be a month on month change from -0.1% to +0.9%.
The US Federal Reserve is expected to release its interest rate decision at 6pm GMT. It is believed by many analysts that this will remain at 2.5%.
On Thursday, Australian participation rate data is due out at 12.30am GMT. This is due to show no change from its previous position of 65.7%.
The Swiss National Bank will release its interest rate decision at 8.30am GMT. This is expected to hold firm at -0.75%.
The Bank of England is also expected to keep rates at their current position, this time at +0.75%, when it meets at 12pm GMT.
American initial jobless claims for the days around March 15th are due at 12.30pm GMT. These are expected to show a shift from 229,000 to 225,000.
Continuing jobless claims data will also be out, this time for the period around March 8th. This was last recorded at 1,776,000.
On Friday, there will be a preliminary manufacturing purchasing managers’ index (PMI) out of Germany at 8.30am GMT. This is due to show a change from 47.6 to 48.1.
Retail sales information for January, meanwhile, will be out of Canada at 12.30pm GMT. Month on month, this was last recorded at -0.1%.