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A new COVID-19 variant

A new COVID-19 variant | 26 November 2021

26 November 2021, USD/JPY

A new COVID-19 variant

USDJPY trading plan:

U.S. Treasuries rallied sharply in Asia on Friday as concerns about a new COVID-19 variant drove demand for safe-haven assets and a paring of recent bets on rate hikes through next year. Two-year yields, a guide to short-term U.S. interest rate expectations, fell 6.7 basis points to 0.57% the sharpest drop since March 2020. While the moves in the U.S. government bond market are still within recent ranges, they unwind some bets on higher rates put on this week after the reappointment of Jerome Powell as Federal Reserve chair. Little is known of the variant, detected in South Africa, Botswana and Hong Kong, but scientists said it could resist vaccines and be very transmissible. It has already prompted Britain to introduce travel restrictions.

Investment idea: range 114.30 -115.10.

David Johnson
Analyst of «FreshForex» company
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