Tuesday, 12 September 2017

What’s next? – USDJPY 12.09.17

Posted by Valentine at 11:45 Labels:

USDJPY

The dollar/yen was up 0.18 percent as of 07:10 GMT on Tuesday to trade at 109.59, as geopolitical tensions and hurricane Irma were less of a concern for investors.

The UN Security Council unanimously voted a new package of sanctions against North Korea, banning its textile exports and capping their crude and refined products imports.

Earlier, Pyongyang warned Washington with “pain and suffering” if new sanctions were approved by the UNSC against its nation. A statement released by the North Korean Foreign Ministry said the United States will pay a “due price” for the imposed sanctions.

"The forthcoming measures to be taken by the DPRK will cause the US the greatest pain and suffering it had ever gone through in its entire history."

The US dollar index, which gauges the greenback against a basket of six major rivals, was 0.03 percent lower at 91.82 by the time of this writing.

No relevant economic data was released in the Asian session. Ahead in the day, market participants will keep an eye on the JOLTs job openings for July, seen at 5.960 million.

This report helps investors assess whether the Federal Reserve is more or less inclined to pursue its monetary policy normalization plan this cycle.

Solid labor market conditions and sustained inflation growth are two key benchmarks for the Federal Open Market Committee to justify further adjustments to the monetary configuration.

According to Fed funds tracked by CME Group’s FedWatch program, investors are currently pricing in a 30 percent probability of a 25 basis points rate hike by December.

Fort Financial Services

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