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. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center