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The yen sprinted to 109.16 per dollar in early trading supported by the election results, but most of its gains deteriorated during the course of the day as the greenback staged a broad rally on expectations of further rate hikes.
As the week progressed, data showing continued economic expansion in the United States kept the greenback supported as it nudged higher pushing the yen lower towards 111.00 per dollar.
Japan will be closed for trading on Monday and Friday, in lieu of 'Respect for the Aged Day' and 'Autumn Equinox' respectively.
Range for this week: Y109.00-Y112.00
Sterling
England commenced the week on a joyous note, after its Cricket team beat Australia to bring home the 'Ashes' after a break of 16 years.
Sterling went through mixed fortunes as it climbed to a 2 ½ high against the euro, but slipped against a rejuvenated greenback. The Pound was also put under pressure by British producer prices that shrank in August, indicating that there were no inflationary pressures in the UK.
However, the release of the British consumer price index which came in line with expectations above the Bank of England's target of 2.0 pct - following surging fuel costs, helped ease speculation of another rate cut by the authorities.
As the week progressed, Sterling experienced a roller-coaster ride following UK data that showed growth in earnings but a slowdown in retail sales eventually falling to end the week around $ 1.8100 levels.
Sterling is likely to remain under pressure in the week ahead, as talk of a further rate cut gathers momentum following this week's batch of economic data.
Range for this week: $1.8000-$1.8300
HSBC
