USD/JPY comes with a soft tone - Scotiabank

By FXstreet.com | Updated July 25, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted a soft tone around the USD/JPY.



Key Quotes:



"CPI came in essentially as expected and vaguely softer than the May print."



"Headline CPI printed at 3.6%y/y, ex fresh food was at 3.3%y/y and ex food and energy was at 2.3%y/y. The release is still distorted from the impact of the consumption tax; but has provided evidence of firming prices in Japan. From the BoJ perspective this likely provides some cover from having to turn towards more aggressive policy in the near-term; however developments to date still suggest that further JPY weakness will be an important piece."



You May Also Like

Related Forex Analysis
  1. USD/JPY: Profit taking noted, bull trend in play - 2ndSkies
    Forex News

    USD/JPY: Profit taking noted, bull trend in play - 2ndSkies

  2. Session Recap: The status quo prevails; Dollar remains at its place
    Forex News

    Session Recap: The status quo prevails; Dollar remains at its place

  3. USD/JPY bulls attacking 118.20 resistance
    Forex News

    USD/JPY bulls attacking 118.20 resistance

  4. USD/JPY Wave Relationships Near 119.50
    Forex News

    USD/JPY Wave Relationships Near 119.50

  5. USD/JPY failing at critical 119.00 level
    Forex News

    USD/JPY failing at critical 119.00 level

Trading Center