State of the market: Japanese yen strengthens at the beginning of the week

At the opening of trading on Monday, the major currency pairs are traded at the level of opening the day, maintaining a moderately upward trend against the American dollar, the reason for the formation of which were Friday trades. Also at the beginning of the day, the Japanese yen gained appreciable support, which strengthened across the whole spectrum of the market.

The reason for the yen growth was data on new possible taxes against China from the US, which will serve as an obstacle to Chinese investment in the US economy.

As a result, the news about the possibility of new trade restrictions put pressure on the yield of state   US bonds. In this case, an alternative to state bonds became the yen. A controversial opening of the stock markets of the Asia-Pacific region, after the positive closure of Friday, may become as a bell to the resumption of downward sentiment on the market.

The US dollar index against the basket of major competitors is limited to Friday’s lows and downward dynamics, which may be the closest support.

Read also: “Analysis of a successful deal on Facebook stocks”

Hanzenko Anton