The constructive information on commerce offers proceed to spice up the US Greenback. This has extra to do with positioning moderately than fundamentals for now. In truth, the quick greenback commerce has been one of the crowded ones and due to this fact it is susceptible to unwindings on constructive information on the commerce entrance.
USDJPY is now up greater than 0.6% on the day because the constructive danger sentiment weighs on the Japanese Yen. For the USD, there’s additionally a scenario the place we might see a much bigger upside transfer if excellent outcomes on the commerce entrance make the market to reprice rate of interest expectations all the best way right down to only one lower for the Fed in 2025.
USDJPY 1 hour chart
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