Nikkei: Yen less likely to soften vs. USD despite short-term chaos after US elections


The Nikkei, Japanese daily, published its latest outlook for the yen in relation with the outcome of today’s US elections.

Key Quotes:

“With more market players convinced that a probable U.S. rate hike in December would be the last one for some time, the yen is less likely to soften against the dollar despite some possible short-term chaos after the American presidential election Tuesday”

“The yen, like the Mexican peso, will respond sharply to developments in the U.S. presidential election, said Hans Redeker, global head of FX strategy at Morgan Stanley”

“If Republican candidate Donald Trump becomes more likely to win, the yen would be bought as a safe asset”

“But if Clinton's prospects rise, the yen would be sold as investors grow more comfortable with taking on risks”

“The yen-dollar rate may swing wildly as the election's outcome becomes clear”

To learn more about this topic, check our video analysis

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Bears stepping in below 1.1600, focus on ECB, US GDP

EUR/USD remains under pressure below 1.1600, as the US dollar extends the late Wednesday bids amid broad risk-aversion. Traders turn cautious amid stagflation fears and ahead of Thursday's ECB policy decision and the US Q3 GDP release. 

EUR/USD News

GBP/USD: Sellers attack 50-DMA on monthly support break

GBP/USD prints a three-day downtrend following the key support break, pressured around 1.3740 during the early Asian session on Thursday. The cable pair broke an ascending support line, now resistance, from September 30 the previous day but refrained from closing below 50-DMA.

GBP/USD News

Gold remains pressured near $1,800 amid USD recovery

Gold prices surrender the previous session's gains and struggle to defend the $1,800 mark. The US 10-year Treasury yields rebound from the early lower levels to trade at 1.55%, following the upcoming BOJ and the ECB policy meetings on the day.

Gold News

Shiba Inu could surpass Dogecoin after a 700% SHIB price rally in October

Shiba Inu (SHIB) continued its march upward on Oct. 27, with its price hitting a record high of nearly $0.000060 before correcting lower. SHIB rallied by more than 25% to an all-time high of $0.00005959, crossing above its previous all-time high of 0.00005000, according to data from Binance.

Read more

BOJ Preview: Focus on outlook tweaks ahead of general election Premium

Despite the recent depreciation in the yen and rising energy prices, the Bank of Japan (BOJ) is likely to maintain its monetary policy settings on Thursday, as it concludes its two-day monetary policy review meeting.

Read more

Forex MAJORS

Cryptocurrencies

Signatures