The yen falls against some major currencies after the U.S. Treasury Department
drops its designation of China as a currency manipulator ahead of U.S. and China
signing phase-one of the trade deal on Wednesday. The U.S. Treasury's removal of
the currency manipulator label is somewhat a "positive surprise" to the markets,
Commerzbank says. The USD/JPY rose above 110 this morning on the strong risk
tone, Commerzbank says, noting the pair hasn't traded above that level since May
2019. USD/JPY is up 0.1% at 110.09, EUR/JPY is up 0.2% at 122.58 and AUD/JPY is
little changed at 75.88.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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