Last week there was a mass exodus of players from risky assets to the dollar zone. At the same time five days a week dollar, all five days and strengthened. Particularly violent was the fall of the euro. He lost 550 points. But on Monday, August 16, the restoration of a single European.
On Monday morning there was a rebound from the strong level of support for 1,275 dollars / euros, but the reversal of trends is difficult to call. From a technical point of view on the currency chart reversal pattern occurs "head-shoulders, and the current purchase euros - just the calm before the new mass sales. In the middle of the week again to start the massive purchase of conservative currencies - the dollar and especially the yen.
This is especially significant for the Japanese yen. Currency reached a maximum of 15 years against the dollar. However, the state of the Japanese economy can not be called ideal. But strengthen the yen will only undermine the country's growth driver - export potential. How long is destructive buying "Japanese women" is unclear, but one recent case law, employees visual aid harm of excessive currency appreciation, is an example of Greece.
One way or another pressure on the yen in recent days have eased. For one dollar you can help out 85.8 yen. In relation to the dollar rising and the euro, British pound decline has slowed. All this indicates the end of the first round of the transition in conservative currency. But how will these rounds in the current wave of reduction is not very clear.