USD/JPY Holding Steady Near Six-Week High: Cautious Optimism About Trade War Supports - Forex News by Strategia Forex
USD/JPY

USD/JPY Holding Steady Near Six-Week High: Cautious Optimism About Trade War Supports

Posted Friday, September 13, 2019 by
Arslan Butt • 1 min read

Early on Friday, the Japanese yen continues to trade at a six-week low against the US dollar as traders look forward to the upcoming trade talks between US and China. At the time of writing, USD/JPY is trading at around 108.16.

However, expectations of a possible rate cut by the Fed in its upcoming meeting next week is capping the gains in the Guppy. On Thursday, the ECB sounded dovish, announcing a 10 bps rate cut and restarting its QE program to support the weakening Eurozone economy.

The following week should be an interesting one for USD/JPY, with both central banks – the Fed as well as the BOJ due to hold their meetings. Traders will keep an eye on both banks to see if they turn dovish in the face of recent trade tensions and weakness in economic growth, especially in Japan.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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