Closing the Gap in the Yen
Rowan Crosby • 1 min read
After yesterday's spike in the safe-haven assets, we have been keeping a close eye on the Yen. The Yen and Swissy are really the two key currencies to watch in times of uncertainty as money flows towards them.
After more North Korean news, we gapped lower in the USD/JPY as markets opened for the week. However given the fact that it was a holiday in the US, I feel the USD didn’t quite react in the way that it could have. If effectively just sat and waited in a range
Closing the Gap
While we have seen a few attempted spikes higher, without US traders we haven’t had any follow through. I am bullish on the USD in the short term and as such I am looking to see if we can make an extended move higher.
I thought it might happen yesterday but no luck. Of course if tensions increase or if there are sanctions imposed on North Korea then we have the potential for things to escalate further.