|Day's range||107.99 - 108.371|
|52-week range||104.8710 - 114.5110|
The US dollar gapped lower to kick off the trading session against the Japanese yen, as traders look for the safety of the yen after the drone attacks in Saudi Arabia. That being the case, we fell immediately but have spent the rest of the time trying to fill that gap.
The British pound gapped lower against the Japanese yen to kick off the week on Monday as the tensions in the Middle East and more importantly the drone attacks have caused a lot of fear.
Any escalation in the tensions in the region will send the USD/JPY sharply lower. However, if calm breaks out and crude oil prices return to last week’s levels then look for further upside action in the Dollar/Yen.
Investing.com - The safe haven yen and Swiss franc look likely to strengthen when markets open this week amid heightened geopolitical tensions in the Middle East after weekend attacks on Saudi oil plants disrupted global oil supplies.
Investing.com - Oil prices will react when markets open after an attack on a key Saudi production facility, amid uncertainty over how much global supply will be disrupted. Investors are also bracing for another interest rate cut from the Federal Reserve this week, as well as a flurry of rate decisions from other world central banks.
The British pound rallied significantly during the week against the Japanese yen, reaching towards the ¥135 level. That of course should attract a lot of attention as it is an area of extreme order flow.
The GBP/JPY pair has rallied during the trading session on Friday to reach towards the crucial ¥135 level. This is an area that coincides with a lot of different moving pieces, so at this point the question is can we continue?
Investing.com - The pound rose on Friday on a newspaper report that the U.K. government is contemplating some type of regulatory divergence between Northern Ireland the U.K. in an attempt to secure a Brexit deal.
Retail Sales have been supported for most of the year by the income gains generated by the tight job market so if there is a miss in the report, it will be to the upside. This could be bullish for the USD/JPY. Although it won’t affect next week’s Fed interest rate decision, it could have an impact on future rate cuts.
Investing.com -- Stocks are within touching distance of new all-time highs after China stoked hopes of a trade deal with the U.S. Meanwhile, sterling is at a two-month high as Brexit risks recede, and WeWork's IPO is back on the road. Here's what you need to know in financial markets on Friday, 13th September.
It’s risk-on through the Asian session as the markets respond to the ECB move. On the day ahead, the focus will be on Brexit and U.S retail sales figures.
The British pound went back and forth during the trading session on Thursday, as we are starting to get a bit exhausted. However, you can also make a compelling argument for the fact that we have seen support as well. Ultimately, the trading this market is about being very patient.
So far this week, commodity currencies are shining as safe haven currencies are retreating on newfound optimism over US-China trade, Brexit, Hong Kong and central bank easing. But could this be sustained next week? The big focus will be on Thursday’s ECB meeting, which comes with updated staff projections and is widely expected to see the ECB introduce further easing measures.
Investing.com - The U.S. dollar retreated across the board on Thursday after a report suggesting a trade truce between the U.S. and China lent wings to risk assets of all stripes, although it pared losses as the White House denied the report.
Today’s European Central Bank (ECB) interest rate and monetary policy decisions could drive the USD/JPY even higher if they come out with an extremely dovish stimulus package. This could drive global equity markets higher, making the safe-haven Japanese Yen a less-desirable safe-haven asset.
Tensions between the U.S and China ease, supporting risk ahead of the heavily anticipated ECB monetary policy decision later today.
Investing.com - The Japanese yen, which is widely considered as a safe-haven currency, fell on Thursday in Asia as encouraging signs in U.S.-China trade situation improved investor sentiment.
The US dollar continues to grind higher against the Japanese yen on Wednesday, reaching towards the ¥108 level. At this point, it looks like there is a lot of noise just above though, but we could continue going higher.
The British pound try to rally during the trading session on Wednesday but has given back a bit of the gains to show signs of exhaustion. At this point, it’s likely that the parabolic move is starting to run into serious trouble. Beyond that, the ¥135 level above is where I believe the “ceiling” in the market is.
Investing.com – The dollar rose on Wednesday as U.S. bond yields continued to edge higher on hot inflation data, while a retreat in the loonie amid falling U.S. crude prices also boosted the greenback.
Asian markets are growing in the hope of stimulus, while Europe and the US are waiting for signals from the central banks. China continues to struggle for economic growth, as it aims to resist the effect of trade disputes with the U.S.
Investing.com - The U.S. dollar was higher on Wednesday as U.S. President Donald Trump once again went after the Federal Reserve for not cutting interest rates as much as he would like.
Bloomberg says the Bank of Japan (BOJ) may be considering a so-called reverse operation twist. “That’s where the central bank moves to cut short-term rates while supporting longer-term ones. In theory, it could head off yen appreciation, support institutional investors’ returns and boost bank stocks,” according to Bloomberg.