My picks: Buy USDJPY at 95.60
Expertise: Global Macro
Average Time Frame of Trades: 1 week
Quantitative easing and a record high budget deficit continue to weight on the US dollar. However, those are old news and I think we will see a change in investor’s sentiment towards the US dollar over the coming days. That said, today I suggest going long $USDJPY until 5:01 PM ET to capture the usual short-covering ahead of this Wednesday triple interest rate rollover.
