Forex Flash: USD/JPY, doubt recent highs will be exceeded until 4Q 2013 – NAB

FXstreet.com (Barcelona) - According to NAB's FX strategist Ray Attrill: "The weakening in the yen since mid-November derives mostly from the expectation of much more aggressive BoJ policy under duress from the new LDP government," which, in Ray's words, could be an example of when "talk is cheap," the analyst says.

"Risk now is that the BoJ will under deliver relative to what is already priced in to the yen, at least until the changing of the BoJ guard in March and April," Mr. Attrill adds, concluding: "We doubt the recent highs on USDJPY and JPY crosses will be exceeded until the latter half of 2013."