Dollar Recovers From
Easter Slump

Morning Report: 06.30 London

• This morning, the Dollar pairs are under pressure as the US Dollar index recovers from its Easter Monday slump.

• The USD/JPY has been the big winner of late as the US Dollar recovers and the BoJ pursue a negative interest rate policy.

• Dollar pairs generally are on the back foot, especially the GBP/USD and EUR/USD.

• By contrast, the Australian and New Zealand Dollars are holding up well, with the NZD/USD unchanged this morning.

• Oil prices appear to be coming off the boil with a continuation of last week’s slide this morning.

Coming up today:

• Coming up today we have the US S&P/CS HPI data, followed by CB consumer confidence at 14.00.

• Fed chair Yellen then speaks at 16.20.

Trade Idea:

• The USD/JPY is catching the flight at the moment, as the BoJ’s negative interest rate policy takes root.

                     

There could be further upside ahead from here and a good way to play this is a HIGHER trade predicting that the USD/JPY will close above 114.50 in 21 days for a potential return of 153%.

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