Analysts at Nomura noted that markets this week have been dominated by Donald Trump’s press conference yesterday.
"The dollar rallied into the event, only to depreciate as Mr Trump failed to provide clarity on his policy aims (notably trade and fiscal policy).
We entered short USD/JPY positions prior to the conference, and continue to believe this trade has scope to perform.
As we argued last week, Mr Trump’s protectionist trade policy should be fundamentally negative for the dollar, and we see USD/JPY heading towards 110 if not lower in the coming months."
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 securities. 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 Forex 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.