USD/JPY bears in control on 116 handle
By FXStreet USD/JPY has been offered on a weak dollar and the downside is compelling still with Tokyo selling at the open.
Markets in general are a wild ride and the Yen benefits in risk-off, but this is more about the dollar unwinding, that came without much of a signal this week instigated in spurts of supply as markets start to out-price immediate rate hike from the Fed who may well need to hold out and continue assessing the economy to understand whether hiking interest rates was the right thing to do at the right time of doing so. Conditions are seemingly looking a lot less appropriate for normalizing monetary policy, but the dollar’s weakness will be welcomed in the meantime in the game of currency wars. Lower oil and inflation in a global concern for Central Bankers and neither the US nor Japan are immune to the affects China is having on a world-wide market scale.
The main event today comes with the nonfarm payrolls of which Valeria Bednarik, chief analyst at FXStreet’s preview can be read here.
Live coverage of the event can be accessed where with FXStreet
USD/JPY levels
Valeria Bednarik explained, “In the 4 hours chart, the …read more
Source:: FX Street
