Pursuits
Dollar Bulls Approaching a Well-Known Wall After Impressive Run
- Greenback has already tested 115 yen three times this year
- Biggest one-month rally among major currencies faces hurdle
JPMorgan's Loeys Sees Investors Cautious Over Complacent
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After profiting from a world-beating rally, dollar bulls find themselves at risk of being back at square one again when it comes to sustaining gains against the yen.
Even after finishing Friday lower following some soft U.S. economic data, the greenback has rallied 3.8 percent to 113.30 yen in the past month, the biggest advance among major currencies. The rally has some traders looking to 114.54 yen -- a key retracement point of the move since the U.S. election in November -- and to 115 yen, a level the dollar failed to sustain momentum beyond already on three occasions this year.