Here is what you need to know on Monday, April 29:

The Japanese Yen (JPY) registered impressive gains against its major rivals to start the week on a suspected intervention. The US economic docket will not offer any high-tier data releases on Monday. Germany's Destatis will release the preliminary Consumer Price Index (CPI) data for February. 

USD/JPY climbed to a multi-decade high above 160.00 in the early trading hours of the Asian session on Monday. After retreating toward 159.50 area, the pair moved sideways near this level for a couple of hours before declining sharply. USD/JPY lost nearly 400 pips in the next hour and was last seen down 1.7% on the day at 155.60. When asked about the market view of an intervention, Japan’s top currency diplomat Masato Kanda declined to comment.

Pressured by the decline seen in USD/JPY, the US Dollar Index turned south on Monday and was last seen losing 0.45% on the day near 105.30. Meanwhile, the benchmark 10-year US Treasury bond yield holds steady above 4.6%, while US stock index futures trade modestly higher on the day. On Wednesday, the Federal Reserve will announce monetary policy decisions and the US Bureau of Labor Statistics will release April labor market data on Friday.

EUR/USD closed the previous week in positive territory and continued to edge higher early Monday. At the time of press, the pair was up 0.3% on the day at 1.0722.

GBP/USD registered marginal losses on Friday but regained its traction to start the week. The pair was last seen trading at its highest level in over two weeks at 1.2535.

Gold fell over 2% and snapped a five-week winning streak last week. XAU/USD holds steady early Monday and fluctuates in a tight channel above $2,330.