As has been widely anticipated the Japanese have this morning moved to weaken the JPY to help bolster their exports, this is indeed the third time this year that they have stepped in, will they actually see long term results on this occasion? Personally I don’t think so.
This has led to Dollar strength this morning as it is mainly the USD that Japan are looking to gain strength back against, much like the Swiss National bank against the Euro. The increase in demand for Dollars due to them heavilly buying Dollars is the reason behind the Dollar movements and this could well continue over the course of the week, so if you have Dollars to buy it may be prudent to purchase sooner rather than later.
I said in my post this time last week that last week may be the last time this year that you may be able to buy Dollars above 1.60 and this could actually lead to me being right (however that certainly isn’t written in stone in the current market!)
If you have a Dollar purchase or sale to make then feel free to contact me directly [email protected] and I will be more than happy to assist you not only with getting the best rate of exchange but by having me on your side to guide (not advise) you throughout the process.