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Hardy: Yen and Sterling weakness dominate FX week ahead

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A preview of the FX trading week ahead with Head of FX Strategy at Saxo Bank John Hardy. With the G20 meeting this weekend and a possible snap election in Japan just days away the trading landscape will be dominated by politics and global tensions. Russia's negotiation position at the G20 talks will have been weakened by the crash in crude prices. A delay in implementing the new Japanese sales tax will also encourage short Yen positions as will the political activity. 

John talks us through his thoughts on positions and sums up the theme of the week by saying:"We have USDJPY to new highs, Cable to new lows, so we have the dollar recovering overnight in a couple of places from key levels. The story hasn't really been about the dollar it's been about sterling weakness and yen weakness."