USDJPY – Down
USDJPY trading plan:
Federal Reserve Bank of New York President John Williams played down the linkage between monetary policy and financial stability in comments. Williams, who is vice-chairman of the Fed’s rate setting Federal Open Market Committee, did not comment on the monetary policy outlook in his remarks. He did note, however, that „restoring price stability is of paramount importance because it is the foundation of sustained economic and financial stability. That said, the Fed’s super aggressive rate hike cycle of the last year has yet to result in a market reaction that would send the economy into recession, and Fed officials generally agree that the worst of the banking stress seen in the spring has now passed.
Investment idea: buy 143.05 and take profit 144.00.
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