USD/JPY comes with a soft tone - Scotiabank

By FXstreet.com | 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."



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center