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9 Apr 2013
Forex Flash: JPY remains in focus - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that markets remain fixated on JPY weakness as the BoJ initiated longer term asset purchases, leaving the currency broadly lower across the board, and USD/JPY above 99.
Look ahead today, he expects markets to remain focused on JPY vulnerability (note persistent chatter regarding outward Japanese investment flows in the wake of the BOJ’s debasement policies) with the 100.00 level for the USD/JPY already in close proximity. Outside of the Yen, he reiterates the believe that markets will also focus on broad dollar prospects (note US earnings season in focus) as well as the state of the global economy. Ng writes, “While the former will have a bearing on the likes of the EUR, especially with the latest US labor market numbers dulling strong dollar arguments. Meanwhile, global growth readings will likely continue to influence the cyclicals like the AUD.”
Look ahead today, he expects markets to remain focused on JPY vulnerability (note persistent chatter regarding outward Japanese investment flows in the wake of the BOJ’s debasement policies) with the 100.00 level for the USD/JPY already in close proximity. Outside of the Yen, he reiterates the believe that markets will also focus on broad dollar prospects (note US earnings season in focus) as well as the state of the global economy. Ng writes, “While the former will have a bearing on the likes of the EUR, especially with the latest US labor market numbers dulling strong dollar arguments. Meanwhile, global growth readings will likely continue to influence the cyclicals like the AUD.”