JPY bears remain vulnerable to adjustment - Scotiabank

Ross J Burland FXStreet

Analysts at Scotiabank noted that the outlook for relative central bank policy is offering modest support however sentiment and positioning remain critical and JPY bears remain vulnerable to adjustment.

Key Quotes:

"Domestically, near-term risk lies with the CPI data at 7:30pm ET.

The latest BoJ comments from board member Wakatabe provided no major surprises with a reiteration of a bias toward exceptional levels of accommodation alongside a pushback on questions about purchases of U.S. debt.

Risk reversals are steady, for both EUR/JPY and USD/JPY."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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