FX Update: Contrarian EURUSD thoughts for the longer term
Markets are getting buffeted once again by concerns that the coronavirus outbreak fallout will prove more sustained and widespread than originally feared and the usual suspects are on the run lower, including G10 small currencies and especially EM feeling pressure. Today we consider EURUSD strategies for longer term upside.
FX Update: USDJPY saw most violent single day rally in over 20 years
The USDJPY rally yesterday was one for the ages, by our measure the single most violent rally move not connected directly with BoJ policy moves or Japanese MoF interventions in modern market history. It could well be a signal that the days of extremely low volatility are now behind us.
FX Breakout Monitor: USDJPY puts on a fireworks show
The standout development on today was a hefty weakening move in the Japanese yen as USDJPY leaped suddenly to new highs for the cycle while the general USD pictured showed little additional momentum. With this move, USDJPY is looking to close at a new 200-day high.