For the last 3 months I have been following the USA economy closely in anticipation for recovery. The fed have disappointed markets with its hawkish stance without any meat on the bone. With usd being sold off a lot over the months as a result of rate hike disappointments, I came to the conclusion that it was oversold in context of the data points.
Japan has been delivering continuous disappointments with its data all while the currency has been subject to safe haven flows. The yen is one of those currencies that doesn't play nice with data points and the central bank is losing its credibility and ability to direct markets. The divergence of the US and Japanese economies in context to the usdjpy has opened up an opportunity. In early August I opened a series of bets, easing myself into a longer term position for the dollar to gain against the yen. The latest fed meeting and subsequent comments from Japan are the turning points in my opinion to set the scene for the dollar for the rest of the year.i am looking to take up to 1000 pips with possibly more on the table to offer (will likely lock in and see if I can squeeze more). Interest rate differentials is giving me a small rollover bonus every night.
Anyways, just thought I'd share a longer term trade with everyone.
My gradual entry into this position is:
101.11
100.50
100
Japan has been delivering continuous disappointments with its data all while the currency has been subject to safe haven flows. The yen is one of those currencies that doesn't play nice with data points and the central bank is losing its credibility and ability to direct markets. The divergence of the US and Japanese economies in context to the usdjpy has opened up an opportunity. In early August I opened a series of bets, easing myself into a longer term position for the dollar to gain against the yen. The latest fed meeting and subsequent comments from Japan are the turning points in my opinion to set the scene for the dollar for the rest of the year.i am looking to take up to 1000 pips with possibly more on the table to offer (will likely lock in and see if I can squeeze more). Interest rate differentials is giving me a small rollover bonus every night.
Anyways, just thought I'd share a longer term trade with everyone.
My gradual entry into this position is:
101.11
100.50
100
Dollar interest over the rest of the year
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