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Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - The USDJPY stayed propped up during the Asia session in anticipation of a consensus-beating US employment report. A strong ADP payrolls number on Thursday has helped stoke expectations, although methodological changes to that survey further undermines its status as a 'leading indicator' for today's BLS payrolls survey.

Overnight, Boston Fed President Rosengren served reminder of what is at stake, declaring that the Fed should keep buying bonds until the unemployment rate falls to 7.25%. Now at 7.8% there is clearly little prospect of an imminent cessation of quantitative easing, and our US economists still expect the Fed to more than double the pace of bond purchases in December.

According to Gareth Berry, a Research Analyst at UBS, "The USDJPY traded 80.11-80.29 in Asia, and continues to lurk below the important intraday high of 80.62 last seen on Jun. 25 - strong employment numbers today could see a clean break to the upside, however our US economists think consensus opinion is fair."
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