Bernanke testimony to Congress due - could drive USD/JPY

CMC Markets

Fed Chairman Ben Bernanke's written testimony to Congress will be released at 13:30BST before he sits down to speak at 15:00BST which is where we could see the markets move as polticians grill the Fed Chairman to elaborate on his concerns over the US labour market, which caused a big market reaction last week. Any moves are likely to manifest themselves in the USD/JPY given its correlation to US 10 Year bond prices.