10 May 2013
Forex Flash: USD/JPY breaks 100.00 with broad-based dollar buying
FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that USD/JPY has broken 100.00 with broad based dollar buying.
He adds that the timing was always going to be difficult to predict but not many would have chosen yesterday as the day in which the dollar broke through the 100.00 level versus the yen. He notes that there was relatively little in the way of top tier news although he would argue that there has been continued momentum favouring the dollar based on ongoing central bank actions outside of the US to ease monetary policy.
He adds that the timing was always going to be difficult to predict but not many would have chosen yesterday as the day in which the dollar broke through the 100.00 level versus the yen. He notes that there was relatively little in the way of top tier news although he would argue that there has been continued momentum favouring the dollar based on ongoing central bank actions outside of the US to ease monetary policy.