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USDOLLAR Index Reverses FOMC Losses; Is USD/JPY Risk’s Bellwether?

USDOLLAR Index Reverses FOMC Losses; Is USD/JPY Risk’s Bellwether?

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- AUDUSD, EURUSD lead USDOLLAR Index turnaround.

- USDJPY may be flashing a warning sign about risk.

- See the September forex seasonality report.

Nearly all of the USD-pairs are moving in tandem once more; and the one outlier is arguably the most important USD-pair as it pertains to equity risk sentiment. As AUDUSD, EURUSD, and GBPUSD have all pulled back from their post-FOMC highs, USDJPY continues to dither near recent lows as demand for riskier assets sours around the globe. Indeed, with the Japanese Yen as the globe's foremost safe haven currency, a renewed downturn in global equity markets could see USDJPY distance itself further from the other USD-pairs.

See the above video for technical considerations in EURUSD, USDJPY, AUDUSD, and the USDOLLAR Index.

Read more: EUR/USD Under $1.1300 as USDOLLAR Tries to Break September Downtrend

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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