Yen and Aussie drop further in Asia
On Monday, the Japanese yen kept sagging further during Asia trade along with the Australian dollar. It’s because the greenback gained some wind at its back on policymaker comments from Fed Vice Chair Stanley Fischer hailing the American economy ahead of a speech later in the week by the Fed governor.
The currency pair USD/JPY traded at 100.72, up 0.51%. At the same time AUD/USD was worth 0.7593, tumbling 0.46%.
The US dollar index, traditionally measuring the greenback’s strength against a trade-weighted basket of six key currencies, climbed up 0.34%, hitting 94.80.
In the upcoming week, the focus will be on a highly anticipated speech delivered by Federal Reserve Chair Janet Yellen. The given speech is expected to bring fresh signs on the timing of the next American rate lift.
Besides this, traders will also pay attention to Tuesday’s poll data on euro zone business activity for new indications on the overall health of the region's economy in wake of the UK’s vote to exit the European Union earlier in the summer.