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Yen, Swiss franc benefit as dollar falls on U.S.-China conflict and economic fears

This is the best tl;dr I could make, original reduced by 62%. (I'm a bot)
London - The dollar fell on Monday, after reaching its lowest since September 2018 overnight, as deteriorating U.S.-China relations and concerns about the U.S. economy saw investors look to the yen and Swiss franc as safe havens.
With domestic economic concerns trumping its role as a safe-haven currency, the dollar index fell overnight, steadied in the early hours of the morning, then continued its descent.
At 1058 GMT, the dollar index was at 93.777, down 0.6% on the day =USD. As COVID-19 infections show no signs of slowing in the U.S., investors are doubtful of a quick economic recovery.
With the dollar's role as safe haven in question, the Japanese yen and Swiss franc strengthened, suggesting that investors are seeking safety elsewhere.
Versus the dollar, the Swiss franc reached a five-year high of 0.9167 overnight CHF=EBS. The dollar lost 0.8% against the yen, which strengthened to a four-month high of 105.265 JPY=EBS. "Under a general dollar sell-off environment the yen is benefiting as a safe-haven currency," said Neil Jones, head of FX sales at Mizuho, adding that month-end flows were also playing a role.
"Markets are potentially looking for risk aversion currencies, and this seems to be a discretionary switch away from dollar into the yen and the Swiss franc," he said.
Summary Source | FAQ | Feedback | Top keywords: dollar#1 yen#2 Swiss#3 franc#4 USD#5
Post found in /Economics.
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submitted by autotldr to autotldr [link] [comments]

Chaos in trading sessions

Every website I look at seems to have different times for different trading sessions
For example the Sydney session:
Babypips: 7 am to 4 pm local time
Admiral Markets: 10 pm - 6 am Berlin time (today) ~ 8 am - 4 pm local time
Oanda: 10 pm - 7 am GMT (today) ~ 9 am - 6 pm local time
... and so on for other sessions and other websites.
So, WTF? What are the actual trading sessions?
Another one: according to babypips the London session is from 8 am to 4 pm local time, but according to Oanda it's 8 am to 5 pm local time ...
submitted by anon4357 to Forex [link] [comments]

USDJPY - 2 and a half hours left.

I know this seems horribly arbitrary (I've tested other things, this worked best), but we close USDJPY 30 mins before the swaps credit (10 pm GMT).
We usually see the market squeeze sellers hard in the next couple hours. 106.66 is current price. We're at a high. This can break in a big move up, and this is where sellers get stopped out and reverse long. Big mistake. We should do exactly the opposite.

We bank 30 mins before the swap, and then usually reverse 45 mins after for the dip into London.

I've gave a fuller walk through of this sort of move in this post.

EDIT: This gave a close of 16 pips from the high of the day. I think our buy was about 10 pips from the low of the day.
submitted by whatthefx to u/whatthefx [link] [comments]

Never give users more info than they comprehend

A little background info:
We are international forex company, based in Europe. The main server is in London, and so the server time is GMT+0. The platform displays both local and server time in different windows. We have some services restricted to specific working hours.
The story:
A client approaches me and claims that he can't use our service X. I explain that it is normal given the fact that it can be used only from 8 AM to 8 PM GMT+0. I add that in 4 hours he will be able to use it. Client is baffled because his local time (GMT+6) shows 8 AM. I explain that he needs to look at the server time.
But what is server time, and why it's not the same as my time?
Here I realized that this is gonna be a hard one. I explain that local time and GMT time are not the same. We went through a long and profound discussion on what is local time, what is GMT time, why they exist and why there is difference. At the end he was clueless about why his clock shows neither GMT time, not hi local time. The conclusion was that someone has hacked his computer.
submitted by valdesbg to talesfromtechsupport [link] [comments]

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London Daybreak Strategy

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