Daily News | Focus on the yen

This week is definitely going to be marked by the political and monetary actions that have been undertaken by governments in the Far East. The buzzword of the day seems to be “helicopter money”: investors were hoping that a big amount of money will enter the Japanese market, and as a consequence we had the dollar’s rise. The situation changed when Chief Cabinet Secretary Yoshihide Suga declared that “the government wasn’t considering taking “helicopter money””. Therefore, the monetary actions that are yet to be taken by the Bank of Japan will be based only on market movements and the economic environment. As we can see, the situation is changing on a daily basis: first, the dollar rose against yen due to the Abe’s call for help, and then it hit its session low of 103.95 yen. It’s obvious that the prices are changing with every new information released, so we advise you to keep following what will happen in Japan as the week continues. The yen is definitely the most exciting currency at the moment, but you will need to react very quickly if you are to take advantage of the opportunities that arise on the market. This is surely not the last we hear about it this week.

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Author: Max Rothstein

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