27 Jul 2015
USD/JPY: pullbacks appear limited – BBH
FXStreet (Edinburgh) - Analysts at BBH see the downside in the pair to be limited around 122.90/123.10.
Key Quotes
“As the dollar moved toward the upper end of its range against the yen, a Japanese official cautioned against the need for further yen depreciation. That capped the dollar near JPY124.50”.
“The pullback back in US stocks and the decline in bond yields may encourage short-term traders to push the dollar lower”.
“Still, ahead of the FOMC meeting support in the JPY122.90-JPY123.10 may limit the selling”.
Key Quotes
“As the dollar moved toward the upper end of its range against the yen, a Japanese official cautioned against the need for further yen depreciation. That capped the dollar near JPY124.50”.
“The pullback back in US stocks and the decline in bond yields may encourage short-term traders to push the dollar lower”.
“Still, ahead of the FOMC meeting support in the JPY122.90-JPY123.10 may limit the selling”.