The Japanese yen weakened against the U.S. dollar this past week as the greenback rallied against most of its major counterparts amid the positive fundamental developments in the world’s largest economy.

The near-term rally in the USD/JPY could be short-lived as the pair continues to trade within the downward trend channel carried over from January.

The Japanese yen pushed higher against the U.S. dollar this week, as developments in the world’s largest economy failed to meet market expectations.

The Japanese yen crept higher against the U.S. dollar and the low-yielding currency may continue to appreciate against the greenback next week.

The British pound rallied to a fresh monthly high, and the exchange rate may continue to push higher over the near-term as investors speculate the Bank of England to start normalizing monetary policy later this year.

The Japanese yen pushed lower against the U.S. dollar this week, falling some 2.3 percent as developments in world’s largest economy begin to stabilize.

The Japanese yen gained over 2 percent against the dollar over the past week as declining U.S. yields sunk the greenback.

The Japanese yen strengthened against the greenback during the holiday trade, with the USD/JPY retracing the advance from earlier this month.

The Japanese yen was nearly flat on the week against the dollar despite periods of volatility as early risk appetite was dampened by prevailing concerns over Europe.

The British pound is firmly anchored to underlying trends in risk sentiment.