FXstreet.com (Sydney) - The USD fell against the Yen trading at 90.57. The USD did not hold on to an intraday high of 91.30. Trend is sideways down where the currency finds support at 89.15 while resistance is at 91.60.

While it is possible that there may be a return to risk, the market remains cautious ahead of major central banks meetings later this week. The FED already has announced that there will be no movement on interest rates while BoJ and BoE consider monetary policy decisions in the next 24 hours. The recession appears all but over in the US as the economy grew at 3.5% last quarter but this may not be sustained amid rising unemployment and tight lending.

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