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

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY settles below 120.00

  2. Forex News

    USD/JPY short-term technicals favouring the downside – FXStreet

  3. Forex News

    USD/JPY back above 120.00 after US confidence data

  4. Forex News

    Forex Top Movers: US dollar on the offensive; Yen advances

  5. Forex News

    USD/JPY flirting with 120 – Scotiabank

Trading Center