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USDJPY hits 100 as Gold finally reaches $1700


10 March 2020

Gold is once again acting as the shining light and savior of investors with prices breaking above $1700 for the first time since December 2012. Where the opportunities still can be found is across Yen pairs, with the USDJPY plunging all the way to 101 from 104 so far today. The USDJPY in this environment can drop towards 100, and even 98 should the selling in world stock markets continue at the same type of pace to what has been experienced across the past few days.

Where this leaves the Federal Reserve is the major question on the minds of investors. Expectations are on the rise once again that the Fed will need to cut US interest rates as low as 0% within months, while announcing another round of Quantitative Easing is also appearing on the radars of possibility. Should this occur, the slump in the USD should pave the way for an even stronger EURUSD and GBPUSD.

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