China has made “enforceable commitments” not to devalue the yuan and Online Cigarettes Store USA has agreed to publish exchange-rate information, according to the Treasury report. The U.S. decision to label China a currency manipulator in August had helped escalate the trade war between the two nations.With a bullish breach of the resistance around 110, technical indicators are signaling more upside for the dollar-yen. Slow stochastics, a momentum gauge, suggests the currency pair has yet to enter an overbought zone and could extend its advance toward its May 21 high of 110.67. It was at 110.09 as of 3:12 p.m. in Tokyo.
“The dollar-yen rose to 110 amid improved risk sentiment and technical momentum,” said Kumiko Ishikawa,Newport Cigarettes Shop currency analyst at Sony Financial Holdings Inc. in Tokyo. “Whether it will extend its advance further depends on fresh catalysts including U.S. data and the extent of rise in U.S. yields.”
The historical relationship between the yen and overseas investment by Japanese funds shows that periods of weakness Cheap Newport 100s cigarettes in the currency have tended to damp local funds’ appetite for foreign securities and vice-versa.
READ: Forget Hedging and Yields. The Yen is Key to Japan Buying Abroad
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