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  • USDJPY Climbs to 114.00 – Highest Since November 2018

USDJPY Climbs to 114.00 – Highest Since November 2018

The USD/JPY pair refreshed multi-year tops during the Asian session, with bulls now awaiting a sustained move beyond the 114.00 round-figure mark. The continued momentum which has been built up over the last 6 months has pushed the USD/JPY pair to the highest level since November 2018.

The Japanese government – in the October economic report – slashed its view on exports for the first time in seven months. This, along with the prevalent risk-on mood, undermined the JPY’s safe-haven demand. Bulls further took cues from a modest uptick in the US Treasury bond yields.

The minutes of the September FOMC meeting reaffirmed that the Fed remains on track to begin tapering its bond purchases in 2021. Moreover, the markets have been betting on the possibility of a potential interest rate hike in 2022 amid fears about a faster than expected rise in inflation.

The market focus now shifts to the release of US monthly Retail Sales figures, which, along with the US bond yields, will influence the USD price dynamics. Apart from this, the broader market risk sentiment might produce some meaningful trading opportunities around the USD/JPY pair.

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To find out more about Errante, visit https://errante.eu.

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Notely Trading Limited is an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number 383/20, registration number HE394425 and with registered office at 30 Karpenisiou, 1077 Nicosia, Cyprus. The Company is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

The website (www.errante.eu) is operated by Notely Trading Ltd.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read our Risk Disclosure.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.

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