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15 Feb 2014
Flash: The dollar ends up on a bad note - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the dollar has ended up near to last years lows this week.
Key Quotes:
"The US Dollar Index is just above the year's lows seen at the very start of the year. Sterling is at new highs for the year, extending this week's gains to 1.8% to lead the major currencies, all of which have gained against the dollar this week."
"The yen has gained almost 0.5% against the US dollar this week, even though equity markets rallied (today's 1.5% decline in the Nikkei cut the weekly advance in half) and the US 10-year premium over Japan increased by 6.5 bp this week. The dollar bounced off the JPY101.50 support we had identified, but has failed to resurface above the JPY102 area, warning perhaps this week's decline may not be over."
Key Quotes:
"The US Dollar Index is just above the year's lows seen at the very start of the year. Sterling is at new highs for the year, extending this week's gains to 1.8% to lead the major currencies, all of which have gained against the dollar this week."
"The yen has gained almost 0.5% against the US dollar this week, even though equity markets rallied (today's 1.5% decline in the Nikkei cut the weekly advance in half) and the US 10-year premium over Japan increased by 6.5 bp this week. The dollar bounced off the JPY101.50 support we had identified, but has failed to resurface above the JPY102 area, warning perhaps this week's decline may not be over."