USD/JPY test article
The USD/JPY is down after rallying to its highest point in a month. The Japanese yen is at a low point as the bullish market means a downturn for the safe haven currency. The slide in the USD to JPYcomes after reaching its highest point since March.The currency is also down because of potential progress on the US-China trade deal and growth in the Chinese economy.
US bank stocks also were high on Monday as some US banks like Wells Fargo had better-than-expected earnings reports. The US dollar has grown against the Japanese yen because of the trend of optimism about the global economy. The USD/JPY chart is rallying as the International Monetary Fund (IMF) also had a positive outlook for the global economy.
The USD/JPY is still in the range of ¥ 111.00 after falling from recent month-long highs.
US dollar to Japanese yen: what to watch for today
The yen is still not moving despite a statement from Bank of Japan governor, Haruhiko Kuroda, said that the financial institution would continue its monetary easing policy.
‘I think there (is) still some room for further monetary easing if needed,’ said Kuroda, adding that it isn’t necessary at this stage.
Investors will be watching the US dollar to Japanese yen to see how the USD/JPY forecast unfolds.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Live prices on most popular markets