How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Japanese yen reaches eight-week maximum vs. greenback on fresh bout of Korean tensions
On Wednesday, the Japanese yen reached an eight-week maximum versus the greenback and made broad revenues versus other peers, following the latest bout of geopolitical tensions in the Korean Peninsula.
North Korea told that it’s actually examining a possibility of a missile attack on the US Pacific territory of Guam, several hours after Donald Trump warned North Korea that any threat to America would be met with fury and fire.
The evergreen buck sagged versus the Japanese yen. This Asian currency is often bought in times of geopolitical tension. The greenback lost 0.4% being worth 109.890 yen.
The South Korean won tumbled more than 0.8% hitting 1,135.6 to the greenback, its lowest outcome since July 14.
The common currency demonstrated a 0.6% slide trading at 128.960 yen, having hit a 1-1/2-year maximum above 131.00 the previous week.
The Australian dollar that went up to a 19-month maximum close to 90.00 yen late in July, tumbled 1% to a one-month minimum of 86.43 yen.
Similar
Is Inflation Defeated?
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
Who Will Rule the US?
The week will have the biggest event in the US political process over the last two years. How will the elections affect the Forex market? We covered the most important news of this week in this report.
Latest news
Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
