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19 Aug 2013
Flash: USD/JPY downside contained by heavy support at 96.00 – BBH
FXstreet.com (New York) - The US 10-year premium has risen above 200 bp for the first time in two years and Japanese investors have bought foreign bonds for six weeks running and the most recent weekly data showed the heaviest buying since August 2010, notes the BBH Currency Strategy Team.
Key quotes
“For their part, foreign investors have been net sellers of Japanese shares for three consecutive weeks, the longest such streak of the year. However, the dollar remains in within the downtrend seen since early July.”
“That trend line is found in the 98.60-80 area by the end of next week. On the downside, support is seen near 96.00.”
Key quotes
“For their part, foreign investors have been net sellers of Japanese shares for three consecutive weeks, the longest such streak of the year. However, the dollar remains in within the downtrend seen since early July.”
“That trend line is found in the 98.60-80 area by the end of next week. On the downside, support is seen near 96.00.”