Monday, August 8, 2016

USD/JPY trades up 0.7% at 102.53

 USD/JPY trades up 0.7% at 102.53, as the dollar gains in the wake of Friday's stronger-than-expected U.S. jobs data. Boris Schlossberg, managing director of FX strategy at BK Asset Management thinks a September U.S. rate hike is unlikely, but says further strong U.S. data raises the prospect of a strong hint in September of a rate hike in December. "The key to that thesis is the quality of U.S. data over the next few weeks. If it proves supportive, starting with the retail sales this Friday the USD/JPY ... could climb towards the 104.00 figure