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31 Mar 2015
USD/JPY flirting with 120 – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, shares the key developments in the Japanese market, and further comments that the upcoming risk for USD/JPY is the Tankan survey, to be released later in the day.
Key Quotes
“USDJPY is flat to yesterday’s close, hovering close to 120.”
“The upcoming risk for JPY is today’s release of Tankan (7:50pm EST), which is expected to show an improvement in both the manufacturing index and outlook.”
“News flow today was mixed. Japan Post has cut its planned purchases of JGB’s almost in half from FY14, targeting purchases of just ¥14trn; while a planned corporate income tax cut of 3% was approved by Parliament.”
“Governor Kuroda reiterated that the BoJ expects to reach its 2% inflation goal in FY2015 but there are always uncertainties.”
Key Quotes
“USDJPY is flat to yesterday’s close, hovering close to 120.”
“The upcoming risk for JPY is today’s release of Tankan (7:50pm EST), which is expected to show an improvement in both the manufacturing index and outlook.”
“News flow today was mixed. Japan Post has cut its planned purchases of JGB’s almost in half from FY14, targeting purchases of just ¥14trn; while a planned corporate income tax cut of 3% was approved by Parliament.”
“Governor Kuroda reiterated that the BoJ expects to reach its 2% inflation goal in FY2015 but there are always uncertainties.”