Near term and the G7/G20 meeting

Japan releasing Q4 GDP data, could be gruesome with a -12% GDP expected y/y.
Im expecting Japan to go for quantitative easing on the back of it.
QE from here will most likely include weakening ones own currency whenever possible since competitive devaluations is now in play globally.

Hence, I expect for Japanese authorities to start making some noice on the currency front. If turned into action, the Eur might strengthen on the back of it as Japanese lifers have the majority of their assets in that currency and they need relief in the run up to fiscal year end.


*Quantitative easing and competitive devaluations - European CB;s first out

Gbp/Usd
With Governor King admitting to the UK economy being in a deep recession, the quantitative easing policy is likely to include a weaker Gbp as well.

Sek
With the surprise Riksbank cut yesterday from 2% to 1% , not excluding 0%, it seems the Riksbank is joining the QE club, with a weaker currency included. Im looking for a weaker Sek. Especially vs Nok.


*Market loosing patience with the Turkey - IMF negotiations
Try
Market patience is waning with the IMF deal scenario and unless G7/G20 comes up with some goods this weekend and/or IMF negotiations develop further near term, I expect the TRY to weaken quite a bit, catching up with the weakening of the other Emerging currencies so far this year.



As usual, good luck





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