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    USD remains heavy against most of the major and emerging market currencies - BBH Sandeep Kanihama

    Research Team at BBH, notes that the US dollar remains heavy against most of the major and emerging market currencies today as the pullback that began at the end of last week continues. Key Quotes“The Australian and New Zealand dollars are leading the way, with 0.5%-0.6% gains.   Nevertheless, we would expect to see the dollar stabilize over the next couple of sessions.   Nevertheless, we expect to see the dollar stabilize over the next couple of sessions. Despite some polls that still show a tight contest, sterling remains firm.  After a pullback to $1.4640 (from above $1.47 yesterday), sterling has been bid through the May 3 high of  and the highest level since very early January. The high for the year was set on January 4 near $1.4815.   As North American participants prepare to return to their posts, sterling is higher on the year (0.25%). The dollar slipped briefly below JPY103.60 in Asia, to approach the multi-year low set last week near JPY103.55 before rebounding to JPY104.60 by early European hours.    Only a move above yesterday's high (~JPY104.85) would begin healing the technical damage inflicted during the seven-day slide that may be ending today.   Beginning Monday, May 30 through yesterday, there have been 16 sessions.  The dollar has fallen in all but three of those sessions. The euro is trading comfortably within yesterday ranges (~$1.1280-$1.1380).” 


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