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26 Aug 2013
Flash: USD/JPY lead by yield differentials - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that for USD/JPY, yield differentials are expected to remain a significant driver for the pair in the near term.
Key Quotes
“While on the speculative front, CFTC net speculative JPY shorts were pared further in the latest week.”
“The BOJ governor’s remarks over the weekend in Jackson Hole displayed no wavering from an ultra-accommodative stance and US-centric developments may instead continue to hold sway.”
“In the interim, the USD/JPY may continue to oscillate around its 55-day MA (98.30) as it attempts to base build and a sustained move above 98.40 may be required to generate further lift.”
“On the downside, any break below the 98.00 handle may find some support towards 97.20.”
Key Quotes
“While on the speculative front, CFTC net speculative JPY shorts were pared further in the latest week.”
“The BOJ governor’s remarks over the weekend in Jackson Hole displayed no wavering from an ultra-accommodative stance and US-centric developments may instead continue to hold sway.”
“In the interim, the USD/JPY may continue to oscillate around its 55-day MA (98.30) as it attempts to base build and a sustained move above 98.40 may be required to generate further lift.”
“On the downside, any break below the 98.00 handle may find some support towards 97.20.”