China announces anti-dumping duties, UK-Iran issue getting serious. Greenback trims latest gains amid lack of fresh catalysts, uncertainty over the trade deal with China. Kuroda’s speech will be in the spotlight. With the risk-off returning to desks and the US Dollar (USD) trimming recent gains, USD/JPY traders reassess the latest recovery while dragging the pair back below 108.00 during early Monday. The greenback buyers await fresh clues to extend the previous upside, triggered on the Fed rolling back the odds for an extensive rate hike, as overall view remains bearish for the future monetary policy by the US Federal Reserve. Adding to the pullback could be latest risk aversion as the UK and Iran tension, due to Iran’s capture of the British oil tankers, escalated after lawmakers from both the sides warned each other wherein Tehran remains ready to stretch tension beyond ships. Elsewhere, the previously upbeat sounding sentiment concerning the US-China trade deal turns sluggish after Chinese media says that the dragon nation has its own preconditions to buy more of the US agricultural production. Further, trade woes got bitter after Reuters reported that China will levy fresh anti-dumping duties on stainless steel imports from the European Union, Indonesia, Japan and South Korea. Investors may now turn to the Bank of Japan (BOJ) Governor Haruhiko Kuroda’s speech to take clues of how monetary policy could align with the Prime Minister (PM) Shinzo Abe’s upper house election win and the more likely tax hike. It should also be noted that the Fed officials are on their blackout period and hence trade/political news will grab major market attention. Technical Analysis While 21-day exponential moving average (EMA) level of 108.10 acts as an immediate upside barrier, 108.65 comprising 50-day EMA can question the pair’s further advances. On the downside, 107.55 and 107.20 seem nearby supports to watch ahead of targeting 106.80 if holding short positions. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian stocks drop on falling odds of aggressive Fed easing FX Street 4 years China announces anti-dumping duties, UK-Iran issue getting serious. Greenback trims latest gains amid lack of fresh catalysts, uncertainty over the trade deal with China. Kuroda's speech will be in the spotlight. With the risk-off returning to desks and the US Dollar (USD) trimming recent gains, USD/JPY traders reassess the latest recovery while dragging the pair back below 108.00 during early Monday. The greenback buyers await fresh clues to extend the previous upside, triggered on the Fed rolling back the odds for an extensive rate hike, as overall view remains bearish for the future monetary policy by the US Federal Reserve.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
