29 Sep 2015
USD: Trading mixed against majors – BBH
FXStreet (Delhi) – FXStreet (Delhi) – Research Team at BBH, note that the US dollar is narrowly mixed against the major currencies as the global capital markets are stabilizing in Europe after continued selling was seen in Asia after the US slide yesterday.
Key Quotes
“The euro rose to $1.1280 in Asia, and as commodity producers and commodities stabilized, the euro slipped back toward $1.1220 in Europe. The intra-day technicals warn of the risk of another run at $1.1300-1.1320.”
“The dollar has been tracing out a large symmetrical triangle against the yen since late-August. As we have noted, the pattern is 1) mostly seen as a continuation pattern, which in this context is dollar negative and 2) subject to false breaks.”
“Before the weekend, the dollar broke to the upside, but the close failed to confirm it. Weighed down by sliding equities and lower bond yields, the dollar tested the lower end of the triangle in the JPY119.30 area today, and it held. The dollar has bounced back to trade briefly through JPY120 in the European morning. However, the greenback met new sellers and was pushed back toward JPY119.50 seems likely in North America today.”
Key Quotes
“The euro rose to $1.1280 in Asia, and as commodity producers and commodities stabilized, the euro slipped back toward $1.1220 in Europe. The intra-day technicals warn of the risk of another run at $1.1300-1.1320.”
“The dollar has been tracing out a large symmetrical triangle against the yen since late-August. As we have noted, the pattern is 1) mostly seen as a continuation pattern, which in this context is dollar negative and 2) subject to false breaks.”
“Before the weekend, the dollar broke to the upside, but the close failed to confirm it. Weighed down by sliding equities and lower bond yields, the dollar tested the lower end of the triangle in the JPY119.30 area today, and it held. The dollar has bounced back to trade briefly through JPY120 in the European morning. However, the greenback met new sellers and was pushed back toward JPY119.50 seems likely in North America today.”