The USD/JPY has touched its highest level in over a month at 139.00. The pair could climb as high as the August 1998 peak of 147.65, economists at BBH report.
USD/JPY is trading at the highest since July 15 near 139 and will soon test the July 14 high near 139.40.”
“We maintain our medium-term target of 147.65, the August 1998 high, as the BoJ stood out at Jackson Hole as the Lonesome Dove.”
In other news, the GBP/USD partially shake off the bearish pressure in the European session on Monday, with the dollar preserving its strength on rising US Treasury bond yields and risk-aversion. The pair recovered some 50 after setting a fresh 2-year low of 1.1647.