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Opportunistic JPY trade on Special Councel Mueller news

Real Time AmpGFX – bought USD/JPY to close short (Thu 7/20/2017 4:07 PM)

Bought half unit USD/JPY at 111.86 to close short.

This was taken as an opportunistic trade seeing a possibility of some market upheaval.

I am not committed to this view; the market has settled, so I am closing the trade.

The USD/JPY remains highly correlated with US Treasury yields which are little changed on the day.

Position

Long half unit AUD/NZD at 1.0553; s/l 1.0693

Real Time AmpGFX – JPY Mueller comment and orders (Thu 7/20/2017 8:50 AM MDT)

This story is fresh and interpretation and absorption may take time

It comes after the recent revelations that Don Jr met with people claiming to offer support for the campaign from the Russian government, involving a number of nefarious characters.

The USD was already looking weak, USD/JPY tends to follow US Treasury yields closely.

Confidence in Trump is waning anyway, so this may be another factor that keeps damaging his credibility.

Market is short JPY

This is an opportunistic trade.

 

Positions

Short half unit USD/JPY at 111.92; s/l 112.48; t/p 109.58

Long half unit AUD/NZD at 1.0553; s/l 1.0693

Real Time AmpGFX – sold USD/JPY on Mueller expansion of investigation news (Thu 7/20/2017 8:38 AM MDT)

Sold half unit of USD/JPY  at 111.92

The USD has sold off suddenly on news that the special counsel Mueller will expand his investigation to include Trump’s Business transactions



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Greg Gibbs,
Founder, Analyst and PM
Amplifying Global FX Capital Pty Ltd