"We shouldn't forget that we were at 100 yen ten days ago," Bolz said.Britain's sterling also did damage to the dollar. It was the biggest one-month gain in the survey's 20-year history and one which beat all forecasts in a Reuters poll. "It remains too early to say whether August's upturn is a dead cat bounce or the start of a sustained post-shock recovery," IHS Markit economist Chris Williamson said. "But there's plenty of anecdotal evidence to indicate that the initial shock of the June vote has begun to dissipate. It remains at more than 60 per cent by the end of year.

Source: Economic Times September 05, 2016 09:56 UTC