Forex Flash: USD/JPY seems prone to disappointment ahead of BoJ - Westpac
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USD/JPY
FXstreet.com (Barcelona) - The Bank of Japan's monetary statement, due on Tuesday (the meeting starts today), "is unlikely to do anything beyond the 2% target, maybe a cut in the interest on excess reserves (from 0.1% to 0) and another extension of asset purchases, probably JPY10trn or so" notes Westpac currency strategist Sean Callow.
"More aggressive action seems likely to require a new governor, due in April. USDJPY thus seems to be prone to disappointment on the week, which is likely to cause some collateral damage to AUD, NZD and EUR via yen crosses" Sean adds.
"More aggressive action seems likely to require a new governor, due in April. USDJPY thus seems to be prone to disappointment on the week, which is likely to cause some collateral damage to AUD, NZD and EUR via yen crosses" Sean adds.
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