The Japanese yen was hurtling toward a second-straight week of gains against the world’s reserve currency on Friday as the monetary unit’s value as an asset haven gained amid increasing concerns for the globe’s largest, most powerful economic systems, according to Bloomberg.
The U.S. economy, respected as the world’s largest, is in need of continued stimulus to make it healthier, Janet Yellen, chair of the U.S. Federal Reserve told an audience during a Thursday eve speaking engagement. The economy of China, checking in at the globe’s second largest, is navigating rough economic times. Japan’s economy, which is based on the export of electronic devices and automobiles, is the globe’s third largest.
During both of the past two weeks, the yen has risen 0.3 percent against the U.S. dollar, achieving its first consecutive weeks of gains since late January.
Japanese stocks fell as the yen rose, according to Reuters. The Nikkei has slipped about 1 percent this week.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.