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20 Sep 2013
Flash: Weakness building in JPY; 100.00 on the cards? – BMO
FXstreet.com (London) - Stephen Gallo, Head of European FX Strategy is looking for JPY weakness and discusses his perspective on the Fed.
Key Quotes:
“From a Fed perspective the only thing we can really suggest for now is to watch the US data very closely and allow Fed officials to engage in a tonne of ‘hand-holding’, which is surely what they need to do”.
“The degree to which capital flows will commence, retrench or be put to work is dependent on whether or not we have a clear idea of what the Fed will do with policy over the next quarter, and as of today we simply don’t”.
“We look for any JPY weakness building on yesterday’s themes to be recurring this afternoon but rather tepid at the same in front of the weekend event risk”.
Key Quotes:
“From a Fed perspective the only thing we can really suggest for now is to watch the US data very closely and allow Fed officials to engage in a tonne of ‘hand-holding’, which is surely what they need to do”.
“The degree to which capital flows will commence, retrench or be put to work is dependent on whether or not we have a clear idea of what the Fed will do with policy over the next quarter, and as of today we simply don’t”.
“We look for any JPY weakness building on yesterday’s themes to be recurring this afternoon but rather tepid at the same in front of the weekend event risk”.