Forex Flash: USD/JPY year-end target at 95.00 – Scotiabank (Barcelona) - The Japanese yen is gathering some traction now, hovering over the mid 93.00s ahead of the FOMC minutes. According to Camilla Sutton, Chief Currency Strategist at Scotiabank, PM S.Abe would announce the new BoJ governor at the end of the month and the yen is likely to stabilize ahead of this event.

“We expect further USDJPY upside, with a potential run up to 100; however there are significant factors that limit a sustained rise, including the cost burden of energy imports. We hold a year-end USDJPY target of 95.00”, concludes Sutton.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.