Forex: Bernanke Sparks Rally for Yen Crosses and S&P 500, Will it Last?
Though it was his second day of testimony, Fed Chairman Bernanke's comments leveraged a rally in US equities, yen crosses and EUR/USD. The question moving forward is whether the bullish inclinations hold. The broad trend across FX, equity and yield markets suggest that the common element to move was indeed a 'risk on' push. However, there are plenty of fundamental holes to doubt the commitment from the market beyond volatility. In today's video, we discuss the risk trend scenarios and trade setups best positioned for the various outcomes.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.