TDS advises buying yen on dollar rebound

From the point of view of TD Securities strategists, bullish attempts to rise in the dollar / yen pair should be considered as an opportunity for sale. “The Japanese yen is trading on a combination of political dysfunction and risk appetite, rather than a difference in interest rate levels.

The $ 2 rollback helped stabilize the US currency, but we see only limited space for further USD / JPY growth in response to some modest reassessment of the Fed’s rate hike prospects in the second half of the year. Rather, USD / JPY is more likely to trade on a combination of growth convergence, geopolitical tensions and appetite for risk, which contributes to the decline of bounces, “experts said.

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