Forecasts & Analysis | Currencies

This is the second largest monthly decline this year with only February having a greater devaluation of gold futures.

The softer-than-expected PCE Price Index report did not put material pressure on the American currency.

The US dollar has rallied during the course of the week to threaten the ¥150 level but did not quite clear it.

The British pound had fallen significantly during the course of the week but has bounced significantly from the lows of the week.

The US dollar initially fell against the Japanese yen but turned around to show signs of life again. By doing so, the market is likely to continue to see a lot of US dollar strength going forward.

The British pound initially tried to rally during the session on Friday but has given back gains to show extreme weakness.

Despite all of the fundamental components in place for a rally, gold remained relatively weak on Sep. 28.

The British pound has rallied a bit during the course of the week as we try to stabilize against the Japanese yen.

The Australian dollar has attempted to recover after initially plunging for the week.

The British pound has rallied significantly during the course of the trading session on Friday, breaking above the 50-Day EMA. That being said, the market is likely to continue to see a lot of noisy behavior.