Daily FX Trading Update: Yellen’s Speech Spurs USD Volatility – Feb 11, 2016

Daily FX Trading Update: Yellen's Speech Spurs USD Volatility - Feb 11, 2016



To contact the reporter of the story: Samuel Rae at samuel@forexminute.com

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Samuel Rae is an active retail trader across a variety of assets, including currencies, stocks and commodities and the author of Diary of a Currency Trader (Harriman House). His personal strategy focuses primarily on classical technical charting patterns with a fundamentally supportive bias, combined with a strict, risk management-driven approach to entries and exits. He is an Economics graduate from Manchester University, UK.
  • ben watson
    For now GBP has fallen down to 1.388 levels breaking its major support of 1.39 levels, all thanks to ongoing Brexit fears as UK is planning its exit from the European Union and UK is being the most powerful financial country so far in the European Union so simultaneously its impacting Euro too which has also given a breakout below its psychological significant levels of 1.1000. and GBP may face more selling pressure in coming time. talking about, its being a winner across the board all helped by the ongoing volatility due to risk off sentiments across the board. while it may invite BOJ intervention too has which has openly said that it wont become hesitant for taking necessary actions market volatility poses a threat to their economy as appreciating Yen has already hampered their exports to a great extent. well, Saudi Arabia has took off their hands to favor the production cut instead they want more supply of crude oil. as visible from the recent times, movement in crude is highly related to risk sentiments. Fall in crude indeed triggers risk off sentiments which ultimately boost safe haven status of Yen, so further downfall in oil can ultimately lead to further appreciation of Yen