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9 Apr 2015
USD/JPY neutral bias into next week – BTMU
FXStreet (Barcelona) - The Team at Bank of Tokyo-Mitsubishi UFJ, maintains a neutral bias for USD/JPY for the week ahead, noting that the pair is still struggling to gain direction.
Key Quotes
“The US dollar has remained resilient following the disappointing US payrolls report. More modest Fed tightening expectations are helping to dampen the US dollar’s upward momentum in the near-term. Incoming economic data flow is more important now in determining Fed rate hike expectations and US dollar direction.”
“The latest US retail sales and industrial production reports will be in focus in the week ahead.”
“We expect the current narrow range for USD/JPY to remain in place.”
“Japanese investor’s yen selling flows have been helping to support USD/JPY, although Japan’s net foreign bond selling last week reached its historic high at JPY 3 trillion.”
“USD/JPY – Neutral Bias – (119.00-121.00)”
Key Quotes
“The US dollar has remained resilient following the disappointing US payrolls report. More modest Fed tightening expectations are helping to dampen the US dollar’s upward momentum in the near-term. Incoming economic data flow is more important now in determining Fed rate hike expectations and US dollar direction.”
“The latest US retail sales and industrial production reports will be in focus in the week ahead.”
“We expect the current narrow range for USD/JPY to remain in place.”
“Japanese investor’s yen selling flows have been helping to support USD/JPY, although Japan’s net foreign bond selling last week reached its historic high at JPY 3 trillion.”
“USD/JPY – Neutral Bias – (119.00-121.00)”