USD/JPY is back above 147.00

Byadmin

I posted earlier on the recovery /retracement for major FX against the USD after the CAD tariff news:

While that has stalled, it never even began for JPY. Its weakened consistently. There has been no news nor data for yen today apart from what has already been posted.

This article was written by Eamonn Sheridan at www.forexlive.com.

South Korea trade official: US has demanded South Korea to join efforts to curb China

Byadmin

South Korea trade official:

  • U.S. has demanded South Korea to join efforts to curb China
  • U.S. is very reserved about including sectoral tariffs in trade deal

No further details at this stage. The demand to help curb China seems to make sense, its a driver of much of what Trump is doing.

This article was written by Eamonn Sheridan at www.forexlive.com.

ECB Board member Piero Cipollone speaking Friday, not on monetary policy

Byadmin

European Central Bank Board member Piero Cipollone is speaking at 0730 US Eastern time/ 1130 GMT:

  • on a panel at the Ukraine
    Recovery Conference
  • topic ‘

    Integration
    of the Ukrainian
    Financial
    Sector into the European Internal Market’

Seems very unlikely to include his thought on the economy or monetary policy. Which is not really what he does at the Bank anyway:

  • responsible for the Directorate General International and European Relations, the Directorate General Market Infrastructure and Payments and the Directorate Banknotes
  • chairs the Eurosystem High-Level Task Force on Digital Euro, the Euro Retail Payments Board and the Euro Cyber Resilience Board for pan-European Financial Infrastructures

Its not like he is inexperienced on the economy or monetary policy:

  • before joining the ECB, Cipollone was Deputy Governor of the Banca d’Italia

Earlier re the ECB:

This article was written by Eamonn Sheridan at www.forexlive.com.