It was a risk off week for the global financial markets, with FED monetary policy angst sending weighing heavily on riskier assets.
The US dollar initially tried to rally during the course of the week, as we reached towards the ¥115 level. That being said, we gave back the gains and then broke down significantly.
The British pound has broken down significantly during the course of the week, showing signs of extreme “risk off behavior” out there. At this point in time, the market looks as if it is signaling that we are going much lower.