31 Jul 2015
USD/JPY likely to range-bound near-term – BTMU
FXStreet (Edinburgh) - Derek Halpenny, European Head of GMR at BTMU, sees the pair within its range in the near-term following recent releases and officials’ comments.
Key Quotes
“For now though, we see little chance of any breakout in the recent USD/JPY range. That, we sense, is what the authorities are now happy with”.
“BOJ member Ishida yesterday stated that he was hearing from businesses a desire to see the exchange rate remain stable”.
“Reuters is reporting today a “BOJ source” as stating that policymakers are content with further depreciation only as long as the pace of the move is gradual”.
Key Quotes
“For now though, we see little chance of any breakout in the recent USD/JPY range. That, we sense, is what the authorities are now happy with”.
“BOJ member Ishida yesterday stated that he was hearing from businesses a desire to see the exchange rate remain stable”.
“Reuters is reporting today a “BOJ source” as stating that policymakers are content with further depreciation only as long as the pace of the move is gradual”.