July 23, 2018 08:20: Dollar-Yen trade strategy [From Mr. Tetsu Emori's newsletter]
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From the investment email newsletter “Tetsu Emori's Real Trading Strategy” by Tetsu Emori provided by GogoJungle, here is a small excerpt from this morning’s distribution. This time, please take a look at the trading strategy for USD/JPY amid increases in yen buying and dollar selling following President Trump’s remarks to restrain dollar strength.
We will set USD/JPY aside. It has fallen. The dollar has weakened due to restraining comments on exchange rates from the United States. When this happens, we have no choice but to follow. As I have repeatedly stated, this is exactly what is happening now. In other words, “exchange rates move on the surface due to interest rates, but in the long run they move due to politics,” and only the United States can move the dollar. Let’s not forget this. I pointed out that we should be vigilant this time, and just at that timing restraining remarks from the United States came out. The timing matched perfectly. If you understand the true intentions of U.S. policy, you can anticipate that something like this could happen in advance. Repeating: the United States’ true intention is to drive the dollar lower and pursue a dollar-lower policy. Let’s understand this.
From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori) quoted.
President Trump posted on Twitter, “The U.S. is raising rates and the dollar is strengthening day by day. This is hurting our competitiveness,” showing dissatisfaction with the dollar’s strength that harms exports. We will continue to keep an eye on President Trump’s statements. (Editor)
USD/JPY, 1-hour chart.
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