JPY: No end of risk event to look forward - Westpac

Sandeep Kanihama FXStreet Contributor

Robert Rennie, Research Analyst at Westpac, suggests that the combination of an aggressive run of month end data Friday/ Monday plus the BoJ 2 day ‘outlook’ meeting Monday/ Tuesday next week gives us no end of risk event to look forward to in Japan.

Key Quotes

“We have run with a neutral 100 to 105 range view for the ¥ over the last month or so, and that view has worked well. However, risks of a move higher on technical US$ strength are increasing and it would not take much for the market to take a solid run at 105.

Thus we switch from a very neutral view to a modestly negative view on the ¥, but are yet to see compelling arguments for a significant move much above 105.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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