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Feb 15th, 2018: Yen hits 15 month High as Dollar Declines

Morning Report: 07.00 London

This morning, the Japanese Yen has hit 15 month highs against the US dollar, sending the USD/JPY spiralling. This came despite bigger than expected US inflation data that sent Treasury yields sharply higher. The USD/JPY is now down 2.22% on the week, with the yen pairs generally nursing hefty losses on the month.

Other yen pairs are experiencing losses this morning, though with shallower declines. The AUD/JPY is still the worst performing pair on the month, but is making small gains this morning while others make losses.

The dollar index is making declines for the fourth day in a row, erasing most of last week’s gains.

The AUD/USD and NZD/USD have seen the biggest gains over the last two days, with a large rebound yesterday.

The EUR/USD has continued its rebound and is now within a good session of breaching the recent highs again. The pound is performing well this morning, but is still some way off the highs, with the EUR/GBP unchanged this morning.

Gold rallied hard yesterday, putting the recent highs in reach again.

Coming up today

Today, we have US PPI, Empire State Manufacturing, Philly Fed and unemployment claims. Canadian Non Farm Employment change is released at the same time.

At 14.15, we have US Capacity Utilisation rate and industrial production.

Canadian governing council member Schembri speaks at 18.30.

Trade Idea

The USD/JPY has slumped these last few days, but there is still room for further declines.

Feb 15th, 2018: Yen hits 15 month High as Dollar Declines

A good way to play this is a LOWER trade predicting that the USD/JPY will close below 106.00 in 14 days for a potential return of 121%.

Feb 15th, 2018: Yen hits 15 month High as Dollar Declines