Both the Japanese Yen and Euro were in the spotlight on Friday. Both are being affected by the same news but both are moving in opposite directions versus the Dollar.

After a six-day sell-off, the British Pound is finally attracting buyers. Fundamentally this market has been getting beat-up since June 30th when an economic report showed that the U.K. economy had its worst quarter since 1958.

Traders are calling for a higher opening in the GBP USD this morning. Overnight strength in European and Asian equity markets is helping to increase trader demand for higher risk assets.

The USD CHF is called flat this morning based on tight overnight trading. This should come as no surprise because this market has been in a tight range for several weeks.

Lower equity prices and crude oil have been helping to support the USD CAD, but a nearby resistance level is preventing this currency pair from rallying sharply higher. Although it is unclear fundamentally why this market is stalling from rallying up to its main upside target at 1.1922, it is clearly not attracting the buying power that it saw over the past month.