Published at 02:42 (GMT) 16 Dec
Bank of Japan companies' average forecasts is at 1.40% y/y in 1 year from the Tankan survey. Forecast for inflation in 1 year is lower than the 1.5% forecast 3 months earlier. Companies see 1.6% y/y inflation in 3 years and 1.7% y/y inflation in 5 years. Companies were asked to exclude the effects of consumption tax changes from their forecasts.
Once again, USD/JPY fell to support zone of 117.50, before staging a respectable rebound towards 118.00+. the pair is currently consolidating within a wider range of 117.50 - 119.50 before the turn of the year, with a slight bias on the downside. Still, we expect fresh buyers to come in at lower levels, with stops not seen
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