FXstreet.com (Barcelona) - After hitting the vicinity of 79.40 at the beginning of the Asian session, the Japanese yen has resumed its appreciation against the greenback, retracing some of the gains made since Monday, as rising risk appetite has been weighting on the safe haven.
Camilla Sutton, Chief Currency Strategist at Scotiabank, informs that “expectations over an increasingly dovish and aggressive BoJ continue to drive both US‐JN 2 year yield spreads and USDJPY higher”. The expert also expects upside pressure to hit the cross, due to political issues such as the likeliness of general elections towards the end of the year and a more dovish BoJ Governor in 2013
“We hold a year-end USDJPY target of 80.00 and a 2013 year-end forecast of 87.00”, she concludes.
Camilla Sutton, Chief Currency Strategist at Scotiabank, informs that “expectations over an increasingly dovish and aggressive BoJ continue to drive both US‐JN 2 year yield spreads and USDJPY higher”. The expert also expects upside pressure to hit the cross, due to political issues such as the likeliness of general elections towards the end of the year and a more dovish BoJ Governor in 2013
“We hold a year-end USDJPY target of 80.00 and a 2013 year-end forecast of 87.00”, she concludes.
