30 Aug 2013
Flash: USD/JPY looks neutral ahead - BTMU
FXstreet.com (Barcelona) - Bank of Tokyo Mitsubishi UFJ analysts believe that there may be some offsetting forces at work over the coming week that inclines them to conclude that the USD/JPY bias for the week ahead is neutral.
Key Quotes
“The FOMC tapering in September debate is of course key and while the market will be quiet in that regard on Monday due to the Labor Day vacation in the US, the ISM manufacturing index on Tuesday and the ADP report on Thursday will be key for the tapering debate in the week ahead.”
“We expect expectations of a September tapering to be maintained but geopolitical events in the Middle East might counter any upside enthusiasm in USD/JPY.”
“The week ahead may be the time in which the US, UK and France jointly attack Syria and hence risk aversion will limit USD/JPY especially on any approach toward the key 100.00 level.”
Key Quotes
“The FOMC tapering in September debate is of course key and while the market will be quiet in that regard on Monday due to the Labor Day vacation in the US, the ISM manufacturing index on Tuesday and the ADP report on Thursday will be key for the tapering debate in the week ahead.”
“We expect expectations of a September tapering to be maintained but geopolitical events in the Middle East might counter any upside enthusiasm in USD/JPY.”
“The week ahead may be the time in which the US, UK and France jointly attack Syria and hence risk aversion will limit USD/JPY especially on any approach toward the key 100.00 level.”