7 Aug 2013
Flash: USD/JPY support at 97.80 only a matter of time – BMO Capital Markets
FXstreet.com (New York) - Greg Anderson, Global Head of FX Strategy at BMO Capital Markets, grapples possible scenarios for a GBP/USD uptick tomorrow on the eve of the BoE.
Key quotes
“The USD strength is looking a little more fragile, despite the data yesterday, but at the moment the ranges continue to dominate proceedings. The 1.3300 level continues to cap EUR/USD and until we see a break and close above that level it is hard to get too excited.”
“The USD/JPY support at 97.80 is looking as though it will be challenged, with stops reportedly lying below that level.”
Key quotes
“The USD strength is looking a little more fragile, despite the data yesterday, but at the moment the ranges continue to dominate proceedings. The 1.3300 level continues to cap EUR/USD and until we see a break and close above that level it is hard to get too excited.”
“The USD/JPY support at 97.80 is looking as though it will be challenged, with stops reportedly lying below that level.”