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Forex pairs in this Article » USD/JPY (Athens) - Danske Bank strategists note that in the FX market the tendency towards a stronger JPY continued and USD/JPY edged below 96.60 for the first time in eight weeks.

Key Quotes

“Short term, the risk is still tilted towards a stronger JPY. It seems that JPY is the favoured risk-off currency at the moment.”

“In general the euro has also been well supported recently and today’s German factory orders might add further support underlining that the eurozone economy continues to improve.”

“The euro has recently also been getting support from the tighter liquidity situation is the eurozone that tends to push EONIA rates higher supporting the euro everything equal. “

“But all in all we do not expect any strong moves among the major currencies before we see a solution to the US political deadlock.”

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