John Hardy, head of FX strategy at Saxo Bank, digests the repercussions of the G7 finance meeting with USDJPY his focus this week.

Hardy says the meeting was a damp squib and although the US wants to be seen as tough on currency policy, he believes its motives are more political with US president Obama wanting a smooth passage of the Trans-Pacific Partnership deal.

In addition to a closer look at USDJPY, Hardy also examines USDCAD.