19 Dec 2014
USD/JPY sighted for a bullish 2015 post BoJ
FXStreet (Guatemala) - USD/JPY is trading at 119.39, up 0.50% on the day, having posted a daily high at 119.52 and low at 118.75.
USD/JPY is trading cautiously post yesterdays BoJ and subsequent activity around the statement and Kuroda’s press conference. “Overall, the BoJ used its policy meeting this morning to underpin its commitment to a huge QE programme which has been the crux of the authorities’ determination to re-inflate the economy”, explained Jane Foley, Senior Currency Strategist at Rabobank.
The BoJ came across optimistic for the outlook of the economy although they are long way from their 2% target for inflation while the drop in oil prices is certainly not going to help in that respect either. However, in Kuroda’s speech at the press conference, he expressed that falling oil prices are net positive for the economy. “In 2015 we maintain that the BoJ’s determination to depress interest rates across the curve will result in USD/JPY pushing higher towards 125.00 on a 12 mth view” - Jane Foley.
USD/JPY is trading cautiously post yesterdays BoJ and subsequent activity around the statement and Kuroda’s press conference. “Overall, the BoJ used its policy meeting this morning to underpin its commitment to a huge QE programme which has been the crux of the authorities’ determination to re-inflate the economy”, explained Jane Foley, Senior Currency Strategist at Rabobank.
The BoJ came across optimistic for the outlook of the economy although they are long way from their 2% target for inflation while the drop in oil prices is certainly not going to help in that respect either. However, in Kuroda’s speech at the press conference, he expressed that falling oil prices are net positive for the economy. “In 2015 we maintain that the BoJ’s determination to depress interest rates across the curve will result in USD/JPY pushing higher towards 125.00 on a 12 mth view” - Jane Foley.