FXWW News/Trade Ideas

August 13th: Silver continues its march higher, Yen slightly lower on FX markets

I’ve closed out my USD/JPY shorts for a tidy profit, preferring to play the USD-bear card through the AUD and the GBP. I might be reading too much into it, but it seems to me that the move in metals might be primarily a JPY play so I’ll take my profit and get out of the way.

The other major pairs are within 30 pips of where we left them yesterday and I think we can prepare ourselves for a very quiet session.

BOJ meeting minutes and Australian business conditions are the only releases of note on the calendar. Good luck today.

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