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5 Sep 2016
Dollar resilient against the yen - BBH
Research Team at BBH, suggests that the dollar has been particularly resilient against the yen. It posted an outside up day.
Key Quotes
“The dollar was testing JPY100 before Yellen/Fischer, and after a little hiccup on the jobs data (saw JPY102.80), it recovered to make new session highs a little below JPY104. A trendline drawn off the late-May high (~JPY111.45) and the mid-July high (~JPY107.50) is found near JPY104.30 at the start of the new week and JPY103.80 by the end of the week. The 61.8% retracement of the drop since that mid-July high is JPY104.45. A break of that area may spur a move toward JPY105.50.”