The new foreign exchange trading week started with the strengthening of the Dollar and Yen. The Asian tarders began buying of these currencies as the way of responding to political events in Iran. As some officials assume, political crisis causes demand for safe assets, such as the Japanese Yen and U.S. Dollar in this case. Both currencies succeeded in trading against Euro, it was reasoned by lowering number of speculating on interest rate difference.
However, the Japanese Yen shows 0.5 percent growth in the pair JPY/USD, meanwhile USD/EUR result does not seem so firm, about ¼ percent. At the open session EUR/USD is at 1.39, as Friday session closed at the point of 1.3940. The attempts to remain under the rate under 39 level failed. USD/JPY fell up to 96 level, while support for Yen came from cross-rates. Talk of bids by Japanese traders at 96.45/50, then 96.15/20 suggests buying the Dollar is favored in Asian market, however, as Nikkei has erased its initial gain(now up 29 points).
At the same time, despite the crisis in Iran the oil prices remain at the same level with no attempt to break the downside trend.
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