JPY: One of the few beneficiaries – ING
Source Fxstreet
The shift to defensive FX positioning is helping the Japanese yen, ING's FX analyst Chris Turner notes.
A decisive break under 148.50/65 may require an equity sell-off
"Equally, the threat of a global trade war and what it means for growth prospects can see global interest rates edge closer towards the low rates in Japan - also a yen positive. Looking for the yen to outperform on the crosses now will be a popular view. Pairs like EUR/JPY, AUD/JPY and CAD/JPY will be expected to trade lower as activity currencies are priced lower."
"USD/JPY is a little more difficult. A decisive break under 148.50/65 may require an equity sell-off or a big downside miss to Friday's US job reports - which would see President Trump likely take more interest in a lower Fed policy rate."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
XRP is correcting by almost 30% in the last 30 days, with its price trading below $3 for nearly a month. The Directional Movement Index (DMI) shows a strong downtrend, with the Average Directional Ind
The Japanese Yen (JPY) attracts some follow-through buying for the second straight day on Tuesday and moves back closer to a multi-month peak touched against its American counterpart last week.
Gold price trades with negative bias below $2,900 amid some USD dip-buyingGold price (XAU/USD) struggles to capitalize on the previous day's positive move closer to the $2,900 mark and attracts some sellers during the Asian session on Tuesday, stalling its recovery from a three-week trough touched last Friday.
Gold price (XAU/USD) struggles to capitalize on the previous day's positive move closer to the $2,900 mark and attracts some sellers during the Asian session on Tuesday, stalling its recovery from a three-week trough touched last Friday.
XRP price started a fresh decline from the $3.00 resistance. The price is up down over 20% and might extend losses below the $2.20 support. XRP price started a fresh decline from the $3.00 zone. The
Bitcoin and the broader cryptocurrency market have shown strong recovery, with Bitcoin surpassing $93,000 earlier today after an increase of nearly 10% in the past 24 hours. The surge follows the
Related Instrument
