USD/JPY daily
Welcome to the new week, same as the old week.
The US dollar is struggling once again today, as it’s done for most of this year. Quite simply, the market is offering up a vote of non-confidence in the economic policy mix in Washington. It’s an untested mix of tariffs and antagonism towards allies that’s seemingly made up as it goes.
The US dollar would be far lower if the market believed that these policies would continues for the next four years but there is hope that the White House can get its touted 90 deals in 90 days. That said, there are no deals so far and Japanese officials went home on Friday and downplayed the chance of a deal to the domestic audience.
Already, USD/JPY is down 76 pips to 141.42 and selling has accelerated after breaking last week’s low of 141.60. Eyes are on 140.00 and the the September low of 139.56 now.
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