USD/JPY: headed to 110.00 and below - Nomura

Ross J Burland FXStreet

Analysts at Nomura noted that markets this week have been dominated by Donald Trump’s press conference yesterday.

Key Quotes:

"The dollar rallied into the event, only to depreciate as Mr Trump failed to provide clarity on his policy aims (notably trade and fiscal policy).

We entered short USD/JPY positions prior to the conference, and continue to believe this trade has scope to perform.

As we argued last week, Mr Trump’s protectionist trade policy should be fundamentally negative for the dollar, and we see USD/JPY heading towards 110 if not lower in the coming months."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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