Momentum Builds for Yen to Break 110
The bloomberg article says:
“A Japan specific factor is gradually having an impact to boost the yen, as waning inflation expectations are pushing up real interest rates,” said Minori Uchida, head of global market research at Bank of Tokyo-Mitsubishi UFJ Ltd in Tokyo. “The yen may climb toward 108 levels by June. With Trump expectations possibly starting to fade, we are considering revising our current year-end forecast of 107.”
“It’s generally dollar selling that we are seeing, not just against the yen,” said Satoshi Okagawa, senior global market analyst at Sumitomo Mitsui Banking Corp. in Singapore. Trump’s reduced political clout makes his policies less impactful than initially hoped for, he said. “That will lead to a weaker dollar and send the yen past 110 to around 108.”
Link: https://www.bloomberg.com/news/articles/2017-03-26/yen-on-the-comeback-trail-as-momentum-builds-for-a-break-of-110
This is in line with our view to short USDJPY at 111.30. This trade is sitting on 74 pips profit now.
Link: myasiaprivatebank.blogspot.sg/2017/03/sell-usdjpy-at-11134.html?m=1
“A Japan specific factor is gradually having an impact to boost the yen, as waning inflation expectations are pushing up real interest rates,” said Minori Uchida, head of global market research at Bank of Tokyo-Mitsubishi UFJ Ltd in Tokyo. “The yen may climb toward 108 levels by June. With Trump expectations possibly starting to fade, we are considering revising our current year-end forecast of 107.”
“It’s generally dollar selling that we are seeing, not just against the yen,” said Satoshi Okagawa, senior global market analyst at Sumitomo Mitsui Banking Corp. in Singapore. Trump’s reduced political clout makes his policies less impactful than initially hoped for, he said. “That will lead to a weaker dollar and send the yen past 110 to around 108.”
Link: https://www.bloomberg.com/news/articles/2017-03-26/yen-on-the-comeback-trail-as-momentum-builds-for-a-break-of-110
This is in line with our view to short USDJPY at 111.30. This trade is sitting on 74 pips profit now.
Link: myasiaprivatebank.blogspot.sg/2017/03/sell-usdjpy-at-11134.html?m=1
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