Weekly Forex Outlook: May 21-25
The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
USD/JPY: forecast for Sep. 25-29
Last week USD/JPY managed to recover to 112.70. Sharp divergence between the US and Japanese monetary policy gave the pair reasons for growth. The US Federal Reserve signaled that it was still on track to raise interest rates by the end of the year, while the Bank of Japan maintained its extremely loose policy. In addition, there are expectations that Japanese Prime Minister Shinzo Abe will call a snap election next month to strengthen his power base. As his policies weaken the yen, this has a positive impact on USD/JPY.
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It seems like the rally of the greenback has ended. On Monday, the US dollar index tested levels near $94, however, closed below $93.50.
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