Traders bid the USD/JPY currency pair higher on the open following yesterday’s observance of the President’s Day holiday. With the carry trade still alive in the pair, investors continued to the keep the dollar bid.
Lending to British pound strength in the relatively quiet session, the online real estate agent Rightmove reported housing prices that surged 2.7 percent higher.
Topping the list of gainers on the day, the GBP/JPY currency cross pair launched off of the 204 support established in the overnight as traders reinitiated carry trades in light of better than expected Japanese growth figures.
Kiwi bears continued their push as manufacturing slipped considerably in the month of January. Although the period is usually associated with a slow down in production, figures according to the Business New Zealand declined to historical lows calling into concern future economic growth prospects.
Copyright 2024 Tiger Shark Publishing LLC . All rights reserved.
It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
Free Festival of Traders Videos
full story
printer version