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Low interest rates on dollar loans

Low interest rates on dollar loans | 06 May 2020

06 May 2020, USD/JPY

Low interest rates on dollar loans

USDJPY trading plan:

We are expecting a downtrend to develop. The pace and shape of the U.S. economic recovery when the COVID-19 outbreak abates is still highly uncertain and will differ by area of the country, Atlanta Federal Reserve bank President Raphael Bostic said. U.S. dollar loans rates are falling in the London interbank market. This is positive signal for Japanese yen, since excess dollar liquidity has a negative effect on the exchange rate of the U.S. dollar. The interest rate on a three-month loan in U.S. currency in London is 0.50%. This rate was 38.7 basis points higher a week ago.

Trading recommendation: Sell 106.45 and take profit 106.15.

David Johnson
Analyst of «FreshForex» company
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