Daily News | The dollar bounce

As the week keeps drawing to a close, new trading opportunities keep popping up around the globe. Once again, we are here to analyze them and point you in the right direction. Once again, the Japanese yen is at the center of traders’ attention today. From Tuesday to Wednesday, the currency rose from $0.00891 to $0.00894. Although this can be seen as positive, the Deputy Governor of the Bank of Japan Hiroshi Nakaso said that Japan’s economy still needs a lot of financial support. The main reason for that is the overseas situation, which is far from certain, and weak price growth. He also disproved market speculation that the BOJ could increase its bond yield target this year. Speaking of overseas situation, more news are coming in from the United States. In the same period, the USD fell from €0.9353 to €0.9341. Although it fell, we did see a bounce of the currency upwards, but lingering risk aversion pinned Treasury yields near multi-week lows. This is just a continuation of lingering uncertainty raised by President Trump’s protectionist trade rhetoric. He seems to be opting for a weaker dollar, but that will surely not go unanswered. As always, every bounce like this will be covered here, so be sure to follow us every day!

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Author: Max Rothstein

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