13 Dec 2013
Flash: Yen weakness continues but Abenomics doubts persist - BBH
FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that Yen weakness continues, with USD/JPY trading at its highest level since October 2008, just below 104 during the early Asian session.
Key Quotes
“This eclipsed the May high near 103.75, and the next big technical target appears to be the August 2008 high near 110.65.”
“ Some intermediate resistance is likely to be seen near 105, and the move will most likely be a slow grind higher as doubts still persist about the efficacy of Abenomics.”
Key Quotes
“This eclipsed the May high near 103.75, and the next big technical target appears to be the August 2008 high near 110.65.”
“ Some intermediate resistance is likely to be seen near 105, and the move will most likely be a slow grind higher as doubts still persist about the efficacy of Abenomics.”