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The run on the yen continues - BBH

FXStreet (Barcelona) - Mark Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes US dollar and euro at new multi-year highs against the yen.

Key Quotes

“The dollar made another cycle high against the yen, now trading at ¥117.50.”

“Last month's seemingly last minute decision to increase its monetary base target to JPY80 tln was based on a very un-Japanese 5-4 vote. Today, three of the dissents accepted the fait accompli; one did not (Kiuch).“

“The dollar is approaching resistance near JPY118, but many players feel emboldened by recent developments (and momentum) and are looking for JPY120 in the coming weeks.”

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