Fade the dip on USDJPY ? – Market Chatter

@SuryatapaB

 

1957 ET – Speculators waiting to buy the yen and waiting for any risk-aversion cues found some in local headlines about Japan supposedly updating its missile-intercepting technology in response to North Korean saber-rattling. Still, there’s an upside, says Stephen Innes, Head of Trading at Oanda Asia. “One of the best trades of the year has been to fade” geopolitical concerns that usually surround dollar-yen. Today’s move is “too shallow to bring out risk-hunters,” although “we’re back at the old tug of war” between US yields and risk sentiment as the dollar settles in the Y111-113 range. It’s at Y112.45 after briefly breaching Y113 yesterday. (suryatapa.bhattacharya@wsj.com; @SuryatapaB)

Dow Jones /WSJ Wires

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

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and 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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