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Dollar Weakness and Yen Strength is the “Theme of the Day” so far!
By Sean Hyman | June 16, 2009
Typically lately, the dollar and yen rise and fall somewhat together (as they have both served as “defensive plays”). However, today, the dollar is weak…but the yen is still strong. It could be on Japan’s vote of confidence in their economy going foward. However, remember this… in good economic times for both Japan and the U.S. (and for the rest of the world for that part)…usually does the best when the dollar and yen are falling. While there will be small periods of time when an occasional news announcement will favor the dollar or yen, overall if we’re coming out of the global recession like the central bankers believe, then the dollar and yen will decline overall. If so, you can use these rallying points as a great place to short the dollar and yen as they return to weakness.
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Sean Hyman
www.forextradingblog.com
Tags: bank, central bank, central bankers, currencies, currency, dollar, economic, economy, forex, Hyman, Japan, news, recession, Sean, Sean Hyman, time, U.S., Yen
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