Long USD/JPY appeals - SocGen

By FXstreet.com | July 06, 2014 AAA

FXStreet (Bali) - Societe Generale is supporting the idea of a long USD/JPY play following the upbeat NFP in the US.



Key Quotes



"The US June employment report was stronger than expected, but it won’t trigger a sustained dollar rally in the absence of faster wage growth. This is particularly so when the Fed is working hard to emphasise the low terminal level of the Fed Funds rate."



"Patience is still required for a durable trend lower in EUR/USD, but long USD/JPY appeals here. Meanwhile, the Riksbank acts decisively against Swedish deflation risks. Given the zero lower bound on rates, the Swedish krona needs to weaken a lot further."



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. EUR/USD Daily Outlook - September 19
    Investing

    EUR/USD Daily Outlook - September 19

  4. USD/JPY Daily Outlook - September 19
    Investing

    USD/JPY Daily Outlook - September 19

  5. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

Trading Center