Forex Flash: AUD/JPY to depreciate; seen at 80-82 into year-end - NAB
FXstreet.com (Barcelona) - NAB Strategists expect AUDJPY to lower its actual price from 82.60 down to enter into the 80-82 area in a 1 to 3 month scenario.
According to NAB, "the latest BoJ easing has done nothing to weaken the JPY, and the ongoing deterioration in Japan's current account position is also making scant impression."
"While US yields remain pinned to the floor, USDJPY will struggle to get out above its own shadow, and as a result, any weaknessin the AUD will see AUDJPY push back towards Y80" NAB notes.
According to NAB, "the latest BoJ easing has done nothing to weaken the JPY, and the ongoing deterioration in Japan's current account position is also making scant impression."
"While US yields remain pinned to the floor, USDJPY will struggle to get out above its own shadow, and as a result, any weaknessin the AUD will see AUDJPY push back towards Y80" NAB notes.
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