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29 Mar 2013
Forex: USD/JPY upside momentum to remain - UBS
FXstreet.com (Barcelona) - While USD/JPY is struggling to hold up above the 94.00 handle, following disappointing domestic data in Japan, next Thurs 04 BoJ meeting is one of most anticipated events ahead, and “BoJ Governor Kuroda will be aiming to impress with more easing,” says FX Strategy Team at UBS.
“Meanwhile,” the Team expands, “Kuroda’s strong emphasis on JGB purchases – in greater size and longer maturities – is already achieving the desired effect,” they note, adding: “The bar is higher for ‘surprises’, but we expect upside momentum to remain for USDJPY and stick to our year-end forecast of 100,” the analysts conclude.
“Meanwhile,” the Team expands, “Kuroda’s strong emphasis on JGB purchases – in greater size and longer maturities – is already achieving the desired effect,” they note, adding: “The bar is higher for ‘surprises’, but we expect upside momentum to remain for USDJPY and stick to our year-end forecast of 100,” the analysts conclude.