4 Dec 2013
Flash: Nikkei leading JPY 86% of the time - BBH
FXstreet.com (London) - Strategists at BBH noted that the yen moves in the opposite direction of the Nikkei about 86% of the time of the last 60 days.
Key Quotes:
“The Nikkei appears to be leading the yen”.
“This is the highest in 3-months and reflects a substantial tightening of the relationship since the below 30% readings a month ago”.
“It is not immediately clear that the dollar has put in at least a near-term high against the yen”.
“Yesterday's price action did not amount to a key reversal and there has been no follow through dollar selling today”.
Key Quotes:
“The Nikkei appears to be leading the yen”.
“This is the highest in 3-months and reflects a substantial tightening of the relationship since the below 30% readings a month ago”.
“It is not immediately clear that the dollar has put in at least a near-term high against the yen”.
“Yesterday's price action did not amount to a key reversal and there has been no follow through dollar selling today”.