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Trump's anti-Fed tightening rhetoric.....>

DOLLAR-YEN: Trump's anti-Fed tightening rhetoric coupled with him pointing to a
low likelihood of a positive outcome at this week's U.S. China trade talks, as
well as a continued hard line against Turkey & Iran pressured USD/JPY to a low
of Y109.91 in early Asia-Pacific dealing, with the pair last dealing at
- This means that Monday's early rebound was far from corrective. The pair has
breached the Aug 13 low (Y110.11), with bears needing a close below the 100 &
200 DMAs (Y109.98/88) to open up a move to the Jun 26 low (Y109.37). On the
other hand bulls initially need a close above the August 16 high (Y111.12) to
shift the outlook positive.
- Focus likely to remain on global risk sentiment over the coming sessions ahead
of the release of the Fed's Aug meeting minutes, the Jackson Hole Symposium &
Japanese CPI data later in the week.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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