Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
23 Oct 2019

USD/JPY struggles below mid-108.00s, over one-week lows

  • Softer risk mood helped revive safe-haven demand and exerted some pressure.
  • Fed rate cut expectations kept the USD bulls on the defensive and weighed further.

The Greenback held weaker against its Japanese counterpart, with the USD/JPY pair struggling below mid-108.00s, or over one-week lows set earlier this Wednesday.
 
The pair added to the overnight modest losses and witnessed some follow-through selling for the second consecutive session on Wednesday – also marking its fifth day of a negative move in the previous six – amid reviving safe-haven demand.

Weighed down by reviving safe-haven demand

The latest Brexit development, wherein the UK lawmakers rejected the government's proposed timetable for passing legislation to ratify its Brexit deal, weighed on investors' sentiment and underpinned the Japanese Yen's perceived safe-haven demand.
 
A slight deterioration in the global risk sentiment was evident from a softer mood around equity markets and reinforced by a subdued action surrounding the US Treasury bond yields, which further inspired bearish traders and collaborated to the pair's weaker tone.
 
Meanwhile, the US Dollar remained on the defensive on the back of firming market expectations that the Fed will cut interest rates further at its upcoming meeting on October 29-30 and did little to lend any support or provide any meaningful impetus.
 
In absence of any major market-moving economic releases on Wednesday, it will now be interesting to see if the pair is able to find any buying interest at lower levels or continues with its recent corrective slide from the vicinity of 109.00 handle touched on October 15.

Technical levels to watch

 

Oct 23, 2019

Turkey Consumer Confidence up to 57 in October from previous 55.8

Turkey Consumer Confidence up to 57 in October from previous 55.8
Read more Previous
Oct 23, 2019

BoJ said to be considering to lower price, growth forecasts – BBG Report

According to a Bloomberg report, citing people familiar with the matter, the Bank of Japan (BoJ) is considering to lower its forecasts for inflation a
Read more Next