8 Jan 2016
Japanese yen continues to shine - BBH
FXStreet (Delhi) – Research Team at BBH, notes that the Japanese yen continues to shine yesterday.
Key Quotes
“The dollar has been sold through JPY118, triggering stops and optionality on the way, to almost JPY117.30. It is the lowest level for the dollar since August 24 when it approached JPY116.20. The yen is up 2.2% this week against the dollar and 2.4% against the euro. The yen's strength has yet to draw a response from Japanese policy makers, but some response would not be surprising. The yen's strength (nearly 5% on a trade-weighted basis over the past month), if sustained, will hamper efforts to boost inflation.”
Key Quotes
“The dollar has been sold through JPY118, triggering stops and optionality on the way, to almost JPY117.30. It is the lowest level for the dollar since August 24 when it approached JPY116.20. The yen is up 2.2% this week against the dollar and 2.4% against the euro. The yen's strength has yet to draw a response from Japanese policy makers, but some response would not be surprising. The yen's strength (nearly 5% on a trade-weighted basis over the past month), if sustained, will hamper efforts to boost inflation.”