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6 Mar 2014
Flash: Yen is a bad peformer - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted the poorest performers this week.
Key Quotes
"Fifth, the Japanese yen and Swiss franc are the poorest performers this week. The weaker yen, and news that yet another government panel has recommended that the large Government Pension Investment Fund (GPIF) diversify away from its domestic bond focus helped lift the Nikkei 1.6% to its best closing level in over a month."
"The dollar is flirting with the upper end of its recent range against the yen in the JPY102.80 area. Similarly, owing primarily to yen weakness, the euro is knocking on a corresponding level near JPY141.30. We anticipate the weak yen story has more room to play. Our next dollar objective is JPY103.10-60 for the dollar and JPY142.00-50 for the euro."
Key Quotes
"Fifth, the Japanese yen and Swiss franc are the poorest performers this week. The weaker yen, and news that yet another government panel has recommended that the large Government Pension Investment Fund (GPIF) diversify away from its domestic bond focus helped lift the Nikkei 1.6% to its best closing level in over a month."
"The dollar is flirting with the upper end of its recent range against the yen in the JPY102.80 area. Similarly, owing primarily to yen weakness, the euro is knocking on a corresponding level near JPY141.30. We anticipate the weak yen story has more room to play. Our next dollar objective is JPY103.10-60 for the dollar and JPY142.00-50 for the euro."