Dollar Holds Highs Ahead of Fed

Morning Report: 09.00 London

• Markets have risen again this morning, following a weekend of relative calm regarding geopolitical risk factors. The situation in Ukraine is still developing, but so far markets are still not reacting.                                                                                                        

                               
                                                                                                                                                                   
• The dollar index has been the big winner once again, forcing the main dollar pairs and commodities lower and the yen pairs higher.

                               

 • The yen is one of the big losers this morning as money flows readily into the US dollar. This is pushing pairs such as the EUR/JPY and GBP/JPY ever higher.

 • The EUR/USD is struggling, but the euro is showing some out performance against the British Pound.

• Commodities are struggling, especially gold.

                               

                                                                                    
Coming up today:

• Coming up today we have US US ISM manufacturing PMI at 15.00 as the days only remaining item of note.

Trade Idea:

• The USD/JPY momentum is impossible to ignore and when this pair catches a trend, it can really run.

A good way to play this is a HIGHER trade predicting that the USD/JPY will close above 105.25 in 10 days time for a potential return of 165%.

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Summary: