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Has the USD/JPY run out of steam?
The price action in the USD/JPY on Friday afternoon was rather spurious. It initially fell on the latest US monthly jobs report, but then managed to rebound back above 161.25 from a low at 160.40. However, the rebound was not sustained and it fell back to close at 160.75. Earlier today it dropped to a low at 160.26, but it is off that low now. The lower US yields since this time last week are a clear headwind for further gains above 160 right now. The US 2 year note is right now about 0.15% lower than it was last Monday. The trend to sell the Yen remains intact though and it should be remembered; the USD/JPY is not that far below its recent 38 year high, at 161.95. The question to ask at the start of this week; is can it continue to remain so, or is it time for a deeper correction in the dollar? The USD/JPY is currently trading at 160.66
Market News
All News-
Gold takes another hit
Just as the US stock markets were about to reopen Gold was pushing a little higher and heading back towards $3,040. Well, that move did not last long... -
Nasdaq 100 opens in the red
The US stock markets have just reopened and that opening has seen losses across all three major indexes. Of course that was always going to be the... -
US stock futures turn lower again- S+P 500 falls to indicate an opening close to 5,600
The US equity markets will soon reopen and it is not looking like a very positive start to the final session of the week. The Nasdaq 100 is now priced...
