Flash: USD/JPY remains still vulnerable to the downside - Bank of Tokyo Mitsubishi UFJ

FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that despite the FOMC decision a risk of an upturn in turmoil is still high and USD/JPY remains vulnerable to the downside in that regard over the short-term.

Key Quotes

“Dollar positions have been adjusted quite notably versus most major currencies but according to IMM data, short yen positions remain substantial.”

“If there’s a general reduction of risk, the yen could gain further from here. As expected the BOJ kept policy unchanged today.”