Forex: Monday’s review

Yesterday the yen continued a series of declines against the dollar, registering with the 8th-session decline in a row and the longest string of losses in the last seven years in. This trend was due to the release of data that showed that the volume of Japanese exports fell sharply.

The Japanese currency fell against all 16 most-traded currencies after Economy Minister Seiji Maehara said yesterday the introduction of additional incentives.

Today, the yen hit a mark Y79.88, which is the lowest level since July 12.

At the same time, the yen fell against the euro to the level of Y104, 46, which is the minimum in May.

The Australian dollar weakened against most major currencies before a report this week will shed light on the rate of inflation, which is expected to show the slowest pace in 13 years, providing more opportunities to the country's central bank to cut interest rates.

The pound rose for the first time in three days against the dollar after a report showed that the number of bankruptcies in the UK industrial business fell in September, while increasing optimism that the economic recovery continues.

UK currency also fell against the euro and the dollar, in the run-up policy, the Bank of England, which is scheduled for November 8.

The Canadian dollar touched its lowest level against the U.S. dollar for more than 10 weeks, as investors speculated that the Bank of Canada will be at tomorrow's meeting will not pay close attention to interest rates.