USD/JPY rises on a deal to end shutdown until February 8th


According to a report, there is a deal to end the government shutdown. Democrats in the Senate are warming up to a deal that would allow a vote on a bill that resolves the issue of Dreamer immigrants.

Update: Senate minority leader Chuck Schumer confirms a deal to keep the government open until February 8th. He blames Trump for being absent and calls on a deal to save the Dreamers. We may see the same circus around the next deadline, in 17 days.

The US dollar is climbing across the board, with USD/JPY topping 111. The pair was capped under 110.90 before the move and it hit a high of 111.16. Earlier in the day, when no deal was in sight, the dollar opened lower with a Sunday gap, but closed it quite quickly, basically taking it with a stride. The news of an end to the crisis is helping, but also here, the moves are not huge.

Senator Jeff Flake of Arizona, that is a Republican moderate that tried to get an immigration agreement from the outset, said that he thinks there are enough votes to move forward with the government funding bill.

It is still unclear if such a deal would be for the short run, until February, or for longer. And, it isn’t over until the Senate actually votes and approves it. A big majority of 60 senators is required for this type of bill.

Here is how it looks on the hourly dollar/yen chart:

— more coming

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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