Dollar Versus Yen and Pound June 7th

FX Strategy Video > Currency Pairs Analysis

USD/JPY rose again during the session on Wednesday as the markets took the "risk on" trade. The pair is also influenced by the idea of two central banks that are fighting via rates and easing. The Fed will be gauged by the testimony of Ben Bernanke in front of the Congress today. 80 is important.

The GBP/USD pair has made a nice move higher finally after showing an attempt at bottoming over the last couple of sessions. However, the 1.57 level is important and looks resistive at this point. Because of this, we think any rally should eventually fail.

Published on 7th of June 2012
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