Financial literacy fostered at YEN-kura’s Investment University (Academia) | Episode 13 [YEN-kura]

YENKura-san Profile

Enzou. Worked as a currency dealer for over 20 years at fiat banks including Citibank (US), Standard Chartered Bank (UK), and other foreign banks. Currently a top professional trader handling forex, the Nikkei 225, Nikkei options, and individual stock trading. President of ADVANCE Co., Ltd., which primarily publishes investment information. He has deep knowledge not only of major currencies like the dollar and the euro but also of emerging currencies including Asian currencies. He also maintains close ties with overseas traders and fund personnel.

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*This article is a reprint/edit of FX攻略.com February 2021 issue. Please note that the market information written in the main text may differ from the current market.

Risk-on Accelerates After U.S. Election

As I write this at the beginning of December, the official U.S. president has not been decided. I think it’s safe to say Biden is almost certain, but President Trump has not declared defeat, and legal battles continue. However, both the public and financial markets are moving with Biden as the new president, so it is reasonable to view the market as moving on that premise.

What set the path for the next president was the action of the U.S. General Services Administration (GSA). Normally, after the opposing candidate of the U.S. presidential election declares defeat, the GSA administrator certifies the winner. This is because the budget required for a transition cannot be used until formally certified by the GSA, so transition-related tasks cannot proceed. On November 23, President Trump approved Biden’s transition by directing the GSA to recognize the transition, accelerating the transition flow.