Rising oil prices and hopes for a global recovery have supported commodity-exposed currencies such as the Canadian dollar. Thus, the yen collapses against major currencies while the pound appreciates strongly.

The yen at its lowest against major currencies as the pound soars. The US dollar fell slightly as the optimism of vaccination across the Channel propelled the pound sterling to its highest level in almost three years. Sterling, which has surpassed 1.39, is buoyed by expected announcements of a plan to lift restrictions announced for February 22.
The yen was the worst-performing currency of 2021, with its negative correlation with U.S. Treasury yields proving to be the main weakening factor, but the rise in global equities is also an aggravating factor. It hit a one-week low against the dollar. The Japanese currency also fell to its lowest level in more than two years against the euro and the Australian dollar.
At the same time, the pound appreciates strongly with the EUR/GBP accelerating downwards. The pair should join the support at 0.8670 and if breaks the psychological threshold at 0.8500. However, the RSI enters the oversold zone and therefore a rebound or a breath could intervene without calling into question the trend.