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USD/JPY recovers large part

Forex_Trading_Fx_Trader_FXPIG_USDJPY_recovers
  • Wall Street turns positive on the day in the NA session.
  • US Dollar Index inches closer to the 97 mark.
  • US Pres. Trump says stocks will go up once trade deals are finalised.

The USD/JPY pair dipped below the 109 mark for the first time in more than 7 months on Wednesday during the European trading hours but was able to retrace the majority of this drop in the second half of the day supported by improved market sentiment. As of writing, the pair was trading at 109.45, down 0.25% on a daily basis.

Earlier today, concerns over a global economic slowdown caused markets to start the new year in a negative mood. Major Asian and European equity indexes recorded losses to confirm the risk-off theme and allowed the JPY to gather strength as a safer alternative. However, with Wall Street gaining traction and moving into the positive territory following a daily start in the red, the risk appetite was felt, once again, in the markets.

Easing concerns over the U.S. - China trade conflict following President Trump's comments today fueled the U.S. stocks late rise in the session and the S&P 500 was last up 0.27% on the day while the Nasdaq Composite was gaining 0.8%.

Additionally, the decisive climb witnessed in the US Dollar Index reflected a broadly stronger greenback and provided an additional boost to the pair. As of writing, the DXY was up 0.9% on the day, looking to conquer the 97 handle for the first time since the Christmas break.

Source: fxstreet.com

  • Wall Street turns positive on the day in the NA session.
  • US Dollar Index inches closer to the 97 mark.
  • US Pres. Trump says stocks will go up once trade deals are finalised.

The USD/JPY pair dipped below the 109 mark for the first time in more than 7 months on Wednesday during the European trading hours but was able to retrace the majority of this drop in the second half of the day supported by improved market sentiment. As of writing, the pair was trading at 109.45, down 0.25% on a daily basis.

Earlier today, concerns over a global economic slowdown caused markets to start the new year in a negative mood. Major Asian and European equity indexes recorded losses to confirm the risk-off theme and allowed the JPY to gather strength as a safer alternative. However, with Wall Street gaining traction and moving into the positive territory following a daily start in the red, the risk appetite was felt, once again, in the markets.

Easing concerns over the U.S. - China trade conflict following President Trump's comments today fueled the U.S. stocks late rise in the session and the S&P 500 was last up 0.27% on the day while the Nasdaq Composite was gaining 0.8%.

Additionally, the decisive climb witnessed in the US Dollar Index reflected a broadly stronger greenback and provided an additional boost to the pair. As of writing, the DXY was up 0.9% on the day, looking to conquer the 97 handle for the first time since the Christmas break.

Source: fxstreet.com

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