Yen Strength May Turn Into Broader Dollar Rally, RBC Says

By Daniel Tilles

Oct. 28 (Bloomberg) -- The yen’s strength may herald gains by the dollar as October draws to a close, according to RBC Capital Markets.

“The sell-off in cross-yen risks extension to a broader dollar rally as we head into month-end, where the bias is skewed toward dollar demand,” Sue Trinh, a senior currency strategist in Sydney, wrote today in a report. “There is a risk dollar-yen could move higher into the end of the week.”

To contact the reporter on this story: Daniel Tilles in London at dtilles@bloomberg.net