Flash: USD/JPY next stopping point 105/107, it could happen fast – RBS
FXstreet.com (Barcelona) – As the market gets, again, accustomed to see USD/JPY above the 100.00 handle, Greg Gibbs, FX Strategist at RBS, reminds us the lack of obvious new catalyst for the gains in the pair.
“US yields at the front end are lower, taper fear is keeping Asian EM on edge, China financial conditions have been tightened, and European currencies have been strong.”
“The weaker Japanese trade balance reported last week pointing to consecutive monthly current account deficits is a factor that argues for a weaker JPY. The BoJ continues to reaffirm its commitment to its QQE policy; the doves …read more