In today’s Forex Forecast video, we saw Richard Perry, Market Analyst at Hantec Markets, present his view on Cable amid Brexit saga, Dollar-Yen pair, EUR/USD and Gold.
Cable is all over the place and there is no meaningful trend in the pair at the moment, said Perry and added further that the pair is largely responding to opinion polls. Market is still concerned about Brexit and is not really sure how to position itself ahead of referendum.
While talking about USD/JPY, Perry said Ban k of Japan (BOJ) could amp up jawboning once the pair nears 106.00-105.00 levels, but maintained the Yen is ultimately likely to strengthen as markets believe BOJ is facing exhaustion.
Next on cards was Gold, which according to Perry is sensitive to Fed rate hike bets and US dollar moves. He said the dollar is unlikely to see any clear trend and could see bouts of strength and weakness, thus Gold could see a similar action as well. He concluded the talks by presenting his view on EUR/USD.