Dollar may be heading for fresh lows versus the japanese yen, says fundstrat's newton
Dollar may be heading for fresh lows versus the japanese yen, says fundstrat's newton"
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The Japanese yen was strengthening against the U.S. dollar early Tuesday, as the sight of 30-year Japanese government bond yields at their highest since 1999 highlighted the trend of
contracting rate differentials between the two countries. Mark Newton, head of technical strategy at Fundstrat, notes that the USD/JPY currency cross looks to have stalled after a recent
rally, and the buck is weakening again. "USD/JPY looks quite vulnerable in the months to come and appears to have already peaked out after its bounce from April into mid-May," says
Newton.
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