We are taking a short break, but we will be back next week. Stay tuned!
The US dollar has skyrocketed against the Japanese yen during the course of the week, going absolutely parabolic. At this point, a pullback is desperately needed.
The US dollar has rallied during the course of the trading session on Friday to break above the ¥114 level rather significantly and it is parabolic move.
The dollar headed for its first weekly decline versus major peers since the start of last month on Friday as global risk appetite rebounded, while the Japanese yen headed for a three-year low and the price of bitcoin hit nearly $60,000. Global stock markets have rallied this week as fears about a stagflationary economy have been eased by forecast-beating corporate earnings in the United States. Only against the yen - another currency seen as a haven - has the dollar managed to maintain the momentum of the past five weeks, rising 0.4% on Friday and touching 114.18 yen for the first time since November 2018.