Barclays have made selling the US dollar / Japanese Yen exchange rate pairing their ‘trade of the week’. In a note to clients the bank says:

The commodity dollar bloc is forecast to struggle this week by analyst Charles Rubenfeld at Morgan Stanley.

Barclays say they expect resistance in the 1.4670 area to cap a move towards 1.4330.

Recent developments in EUR/USD point to a renewed deterioration in fundamentals across our two most important guiding frameworks – flows and real rates.

A potential approach to the sterling-dollar exchange rate is provided by Shaun Osborne at Scotiabank who writes: The GBP is little changed on the day but retains a soft undertone after the jittery…

USDJPY remains heavy but appears to have found a near term base at the 109.00 figure.

The debate over whether the May rally in the US dollar can extend into June rages on. In the ’Yes’ camp are Morgan Stanley.

The resilience of the euro exchange rate complex continues to catch self-confessed ‘dollar bulls’ Goldman Sachs out and they have had to raise their EUR/USD forecasts higher as a result.

The Australian dollar is in focus once more following comments from RBA Governor Stevens. With the AUD under notable pressure UBS consider how far it will likely fall.

The Canadian dollar has been under pressure against the US dollar since the 3rd of May. Of late the uptrend has slowed and appears in danger of stalling.