USD's Two-Month Rally: Central Bank Jawboning and Technical Resistance on the Horizon😯
The diverging monetary policy outlook has led to a large rally in the USD over the past 2 months, where the dollar is now bumping against strong technical resistance for a short-term reversal. The JPY and CNY have been the main laggards against the Greenback over this move, with Central Bankers resorting to verbal jawboning and intervention threats as a short-term tactic to stall the one-sided moves.
*KANDA: WATCHING FOREX WITH HIGH LEVEL OF URGENCY
*JAPAN’S KANDA: KEEPING CLOSE CONTACT WITH US TREASURY
*KANDA: US AND JAPAN SHARE VIEWS REGARDING EXCESSIVE MOVES
