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Powerful Short Squeeze Continues to Lift the Yen

From marctomarket.com

The greenback remains under pressure. The yen's short squeeze continues, and strong wage growth has helped lift sterling to new highs since last April. Among the G10 currencies, only the Australian and New Zealand dollars are unable to sustain gains through the European morning. Emerging market currencies are also advancing, with a couple of exceptions, including the Turkish lira despite reports on foreign equity inflows. The weaker dollar and softer yields have sent gold to its best level in around three weeks slightly below $1940. It has found support last week ahead of $1900. Encouraged by talk of more stimulus ... (full story)

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  • Category: Fundamental Analysis