Friday, February 24, 2017

JPMorgan Bullish Yen Bet Not Listening To Message of the Market

JP Morgan must know something the invisible hand doesn't (see Matrix). Betting against the latter usually translates into loses and plenty of crow eating afterwards.

Headline: JPMorgan: Why we're betting on a stronger yen

The yen was set to strengthen against the dollar, despite expectations that U.S. interest rates will rise this year, a foreign-exchange strategist at JPMorgan told CNBC.

The first reason that the dollar (STOXX: .DXY) wasn't likely to flex its muscles against the yen (Exchange: JPY=) was that the U.S. Federal Reserve just isn't that gung ho, Jonathan Cavenagh, head of emerging market Asia foreign-exchange strategy at JPMorgan, told CNBC's " Street Signs " on Friday.



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