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21 May 2014
Sterling and Yen taking the lead - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that the GBP and Yen had been the top performers.
Key Quotes
"Sterling and the yen are resisting the dollar's upticks today. The greenback ran into resistance near JPY101.60, the upper end of its three day range."
"That there was not a stronger recovery from yesterday's test on the 200-day for the first time in six months may warn the short squeeze may not be over. A softer share prices in Europe and indications of a lower equity opening in the US, coupled with firmer US Treasuries may also be helping keep the yen bears at bay."
Key Quotes
"Sterling and the yen are resisting the dollar's upticks today. The greenback ran into resistance near JPY101.60, the upper end of its three day range."
"That there was not a stronger recovery from yesterday's test on the 200-day for the first time in six months may warn the short squeeze may not be over. A softer share prices in Europe and indications of a lower equity opening in the US, coupled with firmer US Treasuries may also be helping keep the yen bears at bay."