Wednesday February 8, 2006 - 07:35:14 GMT
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Tricom Futures and Foreign Exchange -
Forex: The Yen rises once again
The US dollar was trading weaker against the major currencies earlier today, and is expected to continue losses against the yen if the Bank of Japan signals an end to its quantitative easing monetary policy.
The dollar was sold overnight with little key data releases and amid a sell-off in energy and metal prices.
The Yen and the metals are taking centre stage at the moment, what with little economic data out of the US, and Europe. GBP/JPY, EUR/JPY, and USD/JPY all look like good shorts on any sort of strength.
Today's Economic Release:
Today's Top Trades
- Sell EUR/USD around 1.1990, with stops above 1.2040
- Sell USD/JPY around 118.00, with stops above 118.40
For more ideas send me an email, [email protected]
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