Mar 29th 2016: Dollar Recovers From Easter Slump

• This morning, the dollar pairs are under pressure as the US dollar index recovers from its Easter Monday slump.

• The USD/JPY has been the big winner of late as the US dollar recovers and the BoJ pursue a negative interest rate policy.

• Dollar pairs generally are on the back foot, especially the GBP/USD and EUR/USD.

• By contrast, the Australian and New Zealand dollars are holding up well, with the NZD/USD unchanged this morning.

• Oil prices appear to be coming off the boil with a continuation of last week’s slide this morning.

Coming up today: 

• Coming up today we have the US S&P/CS HPI data, followed by CB consumer confidence at 14.00.
• Fed chair Yellen then speaks at 16.20.

Trade Idea: 

• The USD/JPY is catching the flight at the moment, as the BoJ’s negative interest rate policy takes root.

• There could be further upside ahead from here and a good way to play this is a HIGHER trade predicting that the USD/JPY will close above 114.50 in 21 days for a potential return of 153%.

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