On Friday, the greenback increased to an 8-month high against the Japanese yen

On Friday, the greenback increased to an 8-month high against the Japanese yen

By: Oliver Miller | Where To Trade | On:Friday, November 25, 2016
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  In Asia, the bond yields stopped their climbing, after record-sales on Thanksgiving day in USA. On Friday, the greenback increased to an 8-month high against the Japanese yen.  

The dollar increased by 0.3% at 113.710 yen. After previously hitting its 8-month high at 113.900 yen, the experts approximated that the rise will be 2.5% per week. The result was surprising.

The Euro increased 0.1%, taking its revenge for the previous day, on Thursday, when euro hit the lowest point since March against other currencies. Euro was ready for a of 0.3% loss per week.

Shin Kadota, chief Japan FX strategist at Barclays in Tokyo, declared that "We kept expecting the dollar to adjust lower during its bull phase but that has not happened yet, since there has been no real opportunity for selling to take hold".

Shin Kadota explained that there are not many factors that can derail the momentum of dollar now, eventhough the markets are now in a dezastreous state and need constant watching. 

The perspective of higher U.S. interest rates and trade protectionism on Donald Trump's leading made the markets and the currencies to be highly influenced. 

    A good example on this subject is the Turkish lira, that hit record lows, despite the fact that the interest rates were raised by the Turkish Central Bank. The Turkish lira had also suffered injuries because the European Union temporary stopped the Eu countries to interact with Ankara.

Some experts say that a sell-off in emerging markets will be possible, and that will resurrect the Japanese yen, considering the fact that the Japanese yen is the go-to currency when markets are rumpus. 

 

Oliver Miller

Oliver Miller

"Patience is the key for success"

Oliver Miller is one of the best financial analyst with 18 years of online trading experience

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