May 19, 2014

Forex Markets: Watch The USD/JPY

The most interesting element is the USD/JPY because the dollar/yen is moving potentially to the lowest level since November 2013. We are very close to breaking the February 4th low in the USD/JPY and if the Yen breaks above that level for the year (going lower for the U.S. dollar) that could prove to be very problematic for the (stock) market that has been inversely correlated to the JPY.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

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