BBH about weak dollar and confident pound

Brown Brothers Harriman: Inability of dollar to keep even insignificant achievements after strong data on an occupation level and sharp change of profitablenesses before the beginning of days off is an ominous sign for the short-term forecast. The euro has faced resistance in the field of $3640/60, and conversations about large optsionnom a barrier near $1.3700 go. Some players, most likely, are informed on protection, but, apparently, overcoming of this area - only a matter of time. Support is at the moment established in a zone of $1.3580 / $1.3600. In spite of the fact that the market puts less than 1 of 10 chances of rate reduction on federal funds this year after hardly earlier it was considered as the solved business, the USA is still beaten out from a general series of the other countries which are in process of increase of interest rates. The market practically does not doubt (that is already reflected in the prices), that Bank of England, ETSB, the Bank of Japan, the Swiss national bank and Bank of Canada will lift rates before the USA will start to move, and when FRS nevertheless will decide to undertake any actions, the most part of primary dealers still expects reduction. Support of dollar against yen is established in the field of Y123.10/20, and resistance - in zone Y123.70-80, however in short-term prospect overcoming of a long-term maximum at level Y124.14 is not excluded. The pound looks confidently, however for the present probably is not ready to make the next break of level of $2.02. Support is still located in the field of $2.0080 / $2.0100. Forexpf. Ru - Forex News / news Forex