Reply To: Forex Weekly Outlook – Japanese Yen Weakest Major Currency Against US Dollar in 2022


USD moves lower as yields back off versus all the major currencies with the exception of the CHF.

The GBP got a boost to new highs helped by comments from BOE Bailey that inflation is the central banks biggest challenge, and rising food price were also a major worry. The BOE warned that inflation may rise to 10% later this year.

The price has now moved above a swing area between 1.2288 and 1.23006.

Spot gold move higher with the falling dollar. The price of gold rose will dollars and $0.62 or 0.70% $1823.30