5 Sep 2013
Flash: USD/JPY pointed higher – TD Securities
FXstreet.com (Lisbon) - The USD/JPY has whipsawed overnight in the aftermath of the BoJ statement where they offered a modestly improved outlook on the Japanese economy, notes the TD Securities Team.
Key quotes
“The USD/JPY refused to stabilize even with the much talked about sales tax increase planned by the Abe government. There was nothing unexpected from the BoJ meeting which leaves USD/JPY and the other JPY crosses at the whim of other global events for now (ECB and US jobs numbers in particular).”
“Overall, the balance of risks suggest the prevailing trend lower in the JPY should extend in the short-term.”
Key quotes
“The USD/JPY refused to stabilize even with the much talked about sales tax increase planned by the Abe government. There was nothing unexpected from the BoJ meeting which leaves USD/JPY and the other JPY crosses at the whim of other global events for now (ECB and US jobs numbers in particular).”
“Overall, the balance of risks suggest the prevailing trend lower in the JPY should extend in the short-term.”