Session Recap: USD weaker, GBP/USD at 1-month highs

FXstreet.com (Córdoba) - The USD trades softer versus its major competitors to start the week. With the economic calendar virtually empty, the JPY was the big mover, dragging the USD lower across the board after Prime Minister Abe's decisive victory in elections for parliament's upper house.

EUR/USD rose to an 11-day peak during the European session, but stalled ahead of the 1.3200 psychological level. GBP/USD also advanced to a 1-month high of 1.5340 propelled by talk of the UK Q2 GDP coming in stronger than expected on Thursday.

Meanwhile, currencies linked to commodities are trading firmer versus the broad weaker greenback with AUD/USD and USD/CAD at 0.9225 and 1.0335 respectively.

Main Headlines in Europe:

BOJ’s Sato: Restoring fiscal health is key to achieving a sustainable recovery in Japan

European equity markets open slightly higher

Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and UBS

Bundesbank: German economy grew strongly in Q2

IMF says no evidence Irish austerity self defeating