Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

​​Dollar recovers after Fed minutes, bolstering USD/JPY and USD/CAD, while GBP/USD rises ahead of Autumn Statement​

The dollar is recovering after last night’s Fed minutes showed, that there was no desire to cut US rates. The pound continues to hold up well ahead of the Autumn Statement from Chancellor Jeremy Hunt.

USD/JPY Source: Bloomberg

​​​GBP/USD stuck below $1.60

​Three days of gains with GBP/USD have helped to put the price back above the 200- and 100-day simple moving averages (SMA).

​​The next destination in any further push to the upside is the $1.26 level, an area of support in June and August. The uptrend from the lows of October remains in place, and even a pullback towards $1.235 and trendline support might not entirely dispel the short-term bullish view.

​​For a more bearish view to regain pre-eminence, the price would need to fall back below $1.23.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

​USD/JPY surges from two-month low

USD/JPY briefly touched a two-month low on Tuesday, before rebounding.

​This has, for now, seen the price fall back to a possible higher low, though we would need to see some follow-through back above ¥149.00 to confirm that this view is in place. This might then see the price rebound towards the highs of October and November towards ¥152.00.

​A reversal back below ¥147.00 would renew the short-term bearish view, though a lower high is needed to alter the medium-term view towards a more bearish one.

USD/JPY chart Source: ProRealTime
USD/JPY chart Source: ProRealTime

​USD/CAD holds above C$1.37

​For now USD/CAD continues to be supported by trendline support from the early-November low, though a lower high earlier in the month has put some pressure on the price.

​A close below C$1.364 would put additional downside pressure on the price, and could solidify the bearish view. This might then see the price head back to the mid-October low at C$1.357.

​A rally back above C$1.38 would suggest that the buyers have reasserted control.

USD/CAD chart Source: ProRealTime
USD/CAD chart Source: ProRealTime

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. See full non-independent research disclaimer and quarterly summary.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market.

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Equities
  • Indices
  • Forex
  • Commodities
website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

" >


Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.