Welcome to 2013: Yen weak but other majors in familiar ranges
The fiscal cliff has been scaled, sort of, but unfortunately the only solution to every problem is to increase debt to some degree. The Japanese have been out-played in recent years in the ‘race to the bottom’ but they are now making a fighting comeback and its becoming increasingly difficult to pick the best out of a bad lot when it comes to the major currencies.
Best then to settle back into trading mode and take what the market gives us. Look for short-term emerging trends, buy dips and sell rallies, only increase risk when you are well ‘in the money’, and have some fun doing so.
Trade of the Year for me: Don’t have one yet I’m afraid.
Good luck for 2013 and may it be a healthy and prosperous one for you all.