The LIBOR rates on U.S. dollar loans are falling | 18 Mei 2020

18 Mei 2020, USD/JPY

The LIBOR rates on U.S. dollar loans are falling

USDJPY trading plan:

The LIBOR rates on U.S. dollar loans are falling in the London interbank market. This is positive signal for Japanese yen, since excess dollar liquidity has a negative effect on the exchange rate of the U.S. dollar. The interest rate on a three-month loan in U.S. currency in London is 0.3805%. Investors are increasing their long positions in the precious metals market. This is a positive signal for the Japanese yen, as the currency pair correlates with gold. The yellow metal pierced the key $1,750-per-ounce mark on Friday, sending bullion prices to 7-½ year highs.

Trading recommendation: Sell 107.35 and take profit 107.00.

David Johnson
Analyst of «FreshForex» company
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