Flash: USD/JPY crawls higher on firmer US yields – OCBC Bank
FXstreet.com (Barcelona) – Emmanuel Ng of OCBC Bank notes that amid firmer US yields and the BOJ‘s intent to continue to pursue an ultra accommodative monetary posture, the USD/JPY managed to crawl higher.
“Going ahead, the pair may remain pulled in opposing directions – with potential heavy JPY-crosses likely to dominate on acute risk aversion, while any dollar resilience may shine through if Fed taper dynamics re-assert their influence.”
“In the interim, the pair may remain somewhat top heavy with 98.00 expected to serve as a near term ceiling while supports are expected towards 97.00 and then 96.60.”
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