It’s been a while since we dedicated a post to all the currencies we follow. Since USDJPY, EURUSD and DXY are closing in on our targets, it seems like a good time to remedy that situation.
Lately, the driver has been interest rates or, more specifically, interest rate expectations. Note that TNX finally officially tagged our 20.34 target.But, there are other factors at work. Just yesterday, JPM opined that the BoJ will likely drop short-term interest rates from -0.1% to -0.3% and the 10Y to -0.2% Why? They want to stay well ahead of the US in debasing their currency.
Another story which caught my eye was this one about a Danish bank offering negative interest rates on mortgages. Imagine taking out a mortgage and having the bank pay you interest.
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