Donald Trump decided to expand taxes on some additional Chinese products including steel and aluminum, which led to the reaction of most major currencies against JPY.
I'm biased that JPY needs to be further weakened, so I will hold open positions against JPY for the next few days.
On the other hand, we see that EUR and GBP are strong against USD, which creates a problem for these two currencies due to strong strengthening against the USD.
The Central Bank of England announced a new interest rate rise in May, but this does not mean that GBP will be further strengthened by raising interest rates, we saw the reaction to raise interest rates for the past when the GBP weakened strongly, although it should have been the opposite.
We also saw a new increase in interest rates for USD on Wednesday, but the USD unexpectedly weakened, which resulted in some losses on my trading account.
It remains only to be seen what will happen when the ECB decides to start raising interest rates.
I do not think there is more substance in raising interest rates = stronger currency, I think that the essence is in monetary policy, that is, what big fathers say on the day of raising interest rates.
I'm biased that JPY needs to be further weakened, so I will hold open positions against JPY for the next few days.
On the other hand, we see that EUR and GBP are strong against USD, which creates a problem for these two currencies due to strong strengthening against the USD.
The Central Bank of England announced a new interest rate rise in May, but this does not mean that GBP will be further strengthened by raising interest rates, we saw the reaction to raise interest rates for the past when the GBP weakened strongly, although it should have been the opposite.
We also saw a new increase in interest rates for USD on Wednesday, but the USD unexpectedly weakened, which resulted in some losses on my trading account.
It remains only to be seen what will happen when the ECB decides to start raising interest rates.
I do not think there is more substance in raising interest rates = stronger currency, I think that the essence is in monetary policy, that is, what big fathers say on the day of raising interest rates.