After the FMOC meeting on Wednesday, you can see that the US dollar skyrocketed against the Japanese yen, bouncing off of the 95 handle. The fact that the Federal Reserve could be out of the quantitative easing game by the middle of next year certainly can’t the market off guard, and money flew into the Dollar as a result. As the Bank of Japan continues to work against the value the yen, this move makes complete sense. Going forward, we fully expect this market to continue to rise in value, and as a result are buying on a short-term dips.
Written by FX Empire