Yen reverses, but for how long?
Markets are on the back foot this morning, with S&P 500 futures falling for their third straight session. The big mover is the Japanese yen after
Japan’s economy minister Akira Amari indicated that there were ´limits´ to how much they were prepared to see the yen weaken. The main yen pairs are
down by around 1%, with the EUR/JPY falling furthest. The euro is weak overall this morning on speculation that the European bank rescue plan is taking
a harder line than expected. Elsewhere, gold is on the rise despite the US dollar having the upper hand today.
Coming up today we have a raft of UK data at 09.30, including CPI, PPI and RPI figures which are largely expected to stay unchanged. From 10.00, BOE
governor King speaks. From 13.30, we switch to the US where we start with core retail sales at 13.30, along with PPI. There´s no doubt that the USD/JPY
has been over sold for some time, but opposing the move has been an easy way to lose money as the yen stubbornly moved lower.
The value bet is still to the downside and a good way to play this on BetOnMarkets.com is a LOWER trade predicting that the USD/JPY closes below 87.00
in 16 days time for a potential return of 355%.
Get this trade now, go to: http://goo.gl/j3szl
BetOnMarkets gives everyone the chance to profit from the markets. You can bet on over 100 currency pairs, indices and commodities with bets ranging
from 30 seconds to 360 days. You can fund your account with as little as $10 and bet for just $2. Our unique "fixed returns" service means you know
exactly how much you stand to win or lose before you commit to a trade.
If you are looking for a low cost, low risk way to participate in the markets, then BetOnMarkets is for you. Check our website out now at
Regent Markets (IOM) Ltd
Victoria Road, Douglas
Receive news from Regent Markets (IOM) Ltd by mail
Sign up here