From BNP Paribas:
On the economic data front, the strong US ISM manufacturing PMI has provided encouragement for USD bulls, as US performance has shifted to the top of the G10 pack. What’s more, Friday’s US employment report is expected to show another robust 225k increase. Today, the US data calendar is quieter, with August vehicle sales, July factory orders and the Beige Book the only releases. We remain constructive on the USD and see scope for USDJPY to continue to catch up with recent gains in other USD pairs. We hold our long recommendation targeting 107, and trail our stop to 104 to lock in a 0.7% profit.
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