GPIF still supports USD/JPY - DB

FXStreet (Guatemala) - Oliver Harvey, analyst at Deutsche explained recent comments from Taisuke Tanaka and subsequent implications for USD/JPY.

Key Quotes:

"Taisuke Tanaka said Japan pension funds increased foreign investment markedly in July, likely as a result of the fall in USD/JPY to the 120 level and the need for mutual funds about to be merged with GPIF to harmonise investment ratios."

"While more aggressive GPIF flows are behind us, dip-buying from pension funds should support USD/JPY around 120."