USD/JPY Wavers but Will it Turn on Policy Shift?
There are few mistakes made by Japanese policy officials when it comes to guiding the yen, so the market-moving comments offered Monday may signal an important change. USDJPY and other yen-based crosses dropped sharply on the open Monday when the market processed comments made by the Economy Minister that suggested rapid declines in the currency could cause problems. Is this enough of a fundamental shift to turn these overbought crosses around, or do we need something more systemic - like risk trends - to instigate the move? We discuss the fundamental conditions and trade options with this theme in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.