USDJPY: Still flirting with key support at the 100.00-level - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that the Central bankers are meet in Jackson Hole, Wyoming, and may make remarks on policy that roil USD/JPY.

Key Quotes

“Fed Chief Yellen may stress her hawkish stance, but even so USD/JPY is not likely to rise, given the dearth of strong JPY selling factors. She is not likely to suggest successive rate hikes. US-Japan gaps in terms of inflation and current account balance point to a lower USD/JPY. USD/JPY may remain calm as August draws to a close.

Strong employment and production data for Japan next week could buy time for BoJ Governor Kuroda in making his comprehensive assessment.”