Forex: Weekly Review U.S. Dollar Currency IndexTVC:DXYjohnelfedforexblogDuring the week starting Monday 12 January, US data continued to suggest the FED will be in no rush to cut rates further. But other factors throughout the week caused an overall lack of conviction in all of the currency's. The week began with the FED'S independence once again coming into question, weakening the USD. But 'decent' US data plus speculation over the next FED chair gave the USD bouts of strength. Geopolitics wasn't too far from the surface, particularly Iran, which at one point looked like it could escalate into a big issue. Plus, never too far from centre stage, the BOJ seemingly has lost tolerance with the continued weakness of the JPY, two very stern 'verbal interventions' gave the JPY bouts of strength. All in all it's a very choppy environment, which looks like it could continue to for a while. I still consider the JPY as 'shortable' in a positive environment. Plus I have read the SNB want to curb CHF strength, there is a case to say the franc may become the better short option, particularly if the EUR is weak at the same time. Given the choppy environment, It is traders discretion as to whether to treat each days a single entity, closing trades before market close and starting fresh the next day. I begin the new week without a clear bias, tentatively looking for short JPY opportunities but wary of the BOJ'S tough talking. The upcoming BOJ meeting will be interesting. On a personal note, the bottom line was a break even week. Three trades, a AUD USD during the midst of the 'FED INDEPENDENCE weakness '. The trade was closed for a small loss pre US CPI data. I then switched to JPY shorts, two AUD JPY, the first (which hit profit) during the continued JPY weakness thanks to government fiscal concerns. The second stopped out following the second round of 'verbal intervention'. I'm very intrigued to see how the JPY begins the new week.