Session Recap: Quiet session but the Yen

FXstreet.com (San Francisco) - The Forex market performed a quiet session to open the week as investors are more focused on the central backs meetings in the upcoming days. However, for the Japanese yen it was a choppy day with the JPY rising against its major rivals.

The EUR/USD traded slightly bearish with the pair retreating from triple top 1.3295 to price at 1.3240. The pair closed the day at 1.3265. Same story for GBP/USD. The cable fell from 1.5400 to finish the day at 1.5340. The AUD/USD remained in its range in between 0.9150 and 0.9300.

About the Yen, the USD/JPY traded sideways around 98.00 with the pair closing below at 97.85, first close at those levels in a month. The GBP/JPY opened the week with a gap and extended last week losses to 150.00, where the pair found support. The EUR/JPY opened with a gap too and declined to 129.60, but the pair managed to close around 129.85.

Main headlines in the American Session

June US Chicago midwest manufacturing 96.0 vs 95.8 prior

FX trading volumes were massive in April – central bank surveys

US July Dallas Fed Manufacturing Business Index: 4.4

EU sees Greece slowly pulling out of crisis, Letta blames Troika for making it worse

Greece receives additional rescue funds

Wall Street start the week with losses on Fed & Tap concerns