19 Nov 2014
The run on the yen continues - BBH
FXStreet (Barcelona) - Mark Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes US dollar and euro at new multi-year highs against the yen.
Key Quotes
“The dollar made another cycle high against the yen, now trading at ¥117.50.”
“Last month's seemingly last minute decision to increase its monetary base target to JPY80 tln was based on a very un-Japanese 5-4 vote. Today, three of the dissents accepted the fait accompli; one did not (Kiuch).“
“The dollar is approaching resistance near JPY118, but many players feel emboldened by recent developments (and momentum) and are looking for JPY120 in the coming weeks.”
Key Quotes
“The dollar made another cycle high against the yen, now trading at ¥117.50.”
“Last month's seemingly last minute decision to increase its monetary base target to JPY80 tln was based on a very un-Japanese 5-4 vote. Today, three of the dissents accepted the fait accompli; one did not (Kiuch).“
“The dollar is approaching resistance near JPY118, but many players feel emboldened by recent developments (and momentum) and are looking for JPY120 in the coming weeks.”