The US dollar multi-month rally continues in early trade with the greenback now touching levels last seen in December 2002. Get your market update from nickcawley1 here:
/JPY quickly settled around the 130.00 level as traders pushed to see if the Bank of Japan had a new ‘line in the sand’ for the Japanese Yen. Recent BoJ policy minutes reveal that while inflation is rising, the central bank’s 2% target is unlikely to come under sustained pressure and that ongoing monetary easing remains necessary to boost the economy. This leaves the Yen at risk of weakening further and suggests that USD/JPY will continue to move higher.
The number of traders net-long is 9.62% higher than yesterday and 9.50% lower from last week, while the number of traders net-short is 1.48% lower than yesterday and 3.68% higher from last week.crowd sentiment, and the fact traders are net-short suggests USD/JPY prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a
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