Pre Jackson Hole position squaring

In currencies, the dollar index, which measures the U.S. currency against a basket of currencies, stood at 93.468 at 12:10 p.m. HK/SIN. Against the yen, the greenback edged up to fetch 109.23 yen compared to levels around 109.17 seen last Friday, but it remained below the 110 handle seen at the beginning of last week.

“White House politics will remain in play, but given some of the outsized currency moves of late, it’s not too surprising dealers are paring short dollar risk as the shift to the Jackson Hole summit will put the focus back on central bank watch,” OANDA head of APAC trading Stephen Innes said in a Monday note.

CNBC

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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