The risk currencies have been on the back foot this week. Better I say, the US Dollar has been in charge because the Japanese yen has declined as well. The market sentiment hasn´t exactly been on risk aversion because if that was the case the Japanese Yen would benefit from it, since it is a safe haven currency. The Swiss Franc is also a safe haven and it hasn´t seen a great demand either, apart from a couple of hours yesterday afternoon which went in favour of our sell EUR/CHF forex signal.

Anyway, the risk currencies have gained considerably against the USD overnight. EUR/USD got close to 1.1050 from 1.0980, AUD/USD has gained about 50 pips, USD/CAD is down despite falling oil prices and GBP/USD in particular, is about 200 pips from the lows yesterday. This morning even the Yen has taken advantage of this USD weakness and has fallen back below 106.