By FX Empire.com
The USD/JPY pair advanced with the beginning of the week to reach near its highest level in four weeks, as the G20 meeting gave the European leaders eight days to announce their plan to contain the sovereign debt crisis.
The G20 pressures on EU leaders increased optimism in the financial market, where Asian stock markets start the week with gains, on the other hand investors abandoned lower-yielding currencies to increase risk appetite.
The Japanese yen and the greenback fell against most of their major counterparts, as investors consider them safe haven currencies and the current market sentiment encourage risky trading which reflected negatively on the yen and the dollar.
On Tuesday at 12:30 GMT, the U.S. economy will issue the Producer Price Index for September where it’s expected to come at 0.2% from the prior reading of 0.0%, while the annual Producer Price Index is expected to ease to 6.4% from 6.5%.
The U.S. Net Long-term TIC Flows for August will be released at 13:00 GMT, where the previous reading was $9.5 billion, as for Total Net TIC Flows it recorded net selling of $51.8 billion the previous month.
