Latest News according to Bloomberg:
Yen Clash Coming?
The U.S. says it wants a currency clause in any trade agreement with Japan. As the two sides prepare to sit down, Japanese officials say there is no need to talk about currencies. Masatsugu Asakawa, the nation’s currency chief, has indicated opposition to a currency clause, saying recently that the link between the yen’s exchange rate and Japanese exports has been “severed.” With President Donald Trump often focused on exchange rates, the U.S. got a currency clause in its revamped trade deal with Canada and Mexico and is said to be seeking one from China now. From the U.S. point of view, Japan is next. How the U.S-Japan talks play out on currencies could determine how much freedom the Bank of Japan has during the next economic downturn. A currency clause could tie the BOJ’s hands, preventing it from taking action that might weaken the yen, even indirectly.
The first target is 75.05 - 74.95
Potential Bullish BAt for a retracement and resell the throwback
Medium-term Target: 74.30
We will decide the rest later :-)
Yen Clash Coming?
The U.S. says it wants a currency clause in any trade agreement with Japan. As the two sides prepare to sit down, Japanese officials say there is no need to talk about currencies. Masatsugu Asakawa, the nation’s currency chief, has indicated opposition to a currency clause, saying recently that the link between the yen’s exchange rate and Japanese exports has been “severed.” With President Donald Trump often focused on exchange rates, the U.S. got a currency clause in its revamped trade deal with Canada and Mexico and is said to be seeking one from China now. From the U.S. point of view, Japan is next. How the U.S-Japan talks play out on currencies could determine how much freedom the Bank of Japan has during the next economic downturn. A currency clause could tie the BOJ’s hands, preventing it from taking action that might weaken the yen, even indirectly.
The first target is 75.05 - 74.95
Potential Bullish BAt for a retracement and resell the throwback
Medium-term Target: 74.30
We will decide the rest later :-)
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