Big Swings for the Yen Spread Betting Market
- European stock market futures are pointing to a positive start after late Friday evening rally in the US.
- This comes on the back of Friday’s comments from US FOMC chairman Ben Bernanke that the Fed is prepared to do whatever it takes to get the economy back on track.
- Things were looking even better until the emergency meeting from the Bank of Japan failed to live up to expectations. Traders were hoping and looking for a bigger stimulus injection than was announced.
- The yen has reversed its early losses on the news, with a 1% reversal on the earlier move on the AUD/JPY that actually puts the yen in credit for the day.
- Risk appetite has swung back to cautious mode, with the EUR/USD down 0.2%.
- It is a bank holiday in the UK today so the GBP/USD and GBP/JPY may not act as they usually do.
Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
Commentary by Dave Evans, BetOnMarkets.
Good Luck!
DB
The above comments do not constitute investment advice and neither Clean Financial nor any contributing author or contributing company accepts any responsibility for any use that may be made of them.
1 comment
Big Swings for the Yen Spread Betting Market…I found your entry interesting
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