1 Oct 2014
USD/JPY upside capped beyond 110.00 – Westpac
FXStreet (Edinburgh) - Strategists at Westpac Global Strategy Group sees further upside beyond 110.00 the figure as unlikely.
Key Quotes
“Japan’s data calendar is crowded (Tankan, IP, jobs/applicants etc.), yet it is hard to see it being pivotal for the yen”.
“We have been treated to a string of Japanese comments on the yen in the last week. It feels to us that concern is rising that the costs of further ¥ depreciation could outweigh the benefits”.
“USD/JPY looks capped north of 110. We therefore shift our bias back to neutral for the week ahead”.
Key Quotes
“Japan’s data calendar is crowded (Tankan, IP, jobs/applicants etc.), yet it is hard to see it being pivotal for the yen”.
“We have been treated to a string of Japanese comments on the yen in the last week. It feels to us that concern is rising that the costs of further ¥ depreciation could outweigh the benefits”.
“USD/JPY looks capped north of 110. We therefore shift our bias back to neutral for the week ahead”.