13 Jun 2014
USD/JPY expectations, 109 Q4 target - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained they see USD/JPY as fairly range bound, between the 200‐day MA and 100‐day.
Key Quotes:
" As expected the BoJ made no change to policy, targeting an annual increase of the monetary base by ¥60 to 70 trn."
"We continue to expect that eventually the BoJ will turn to more aggressive policy, and that this combined with fundamentals and flows (including the upcoming asset mix shift at the GIPF) will drive USD/JPY higher before year‐end. We hold a 109 Q4 14 target."
Key Quotes:
" As expected the BoJ made no change to policy, targeting an annual increase of the monetary base by ¥60 to 70 trn."
"We continue to expect that eventually the BoJ will turn to more aggressive policy, and that this combined with fundamentals and flows (including the upcoming asset mix shift at the GIPF) will drive USD/JPY higher before year‐end. We hold a 109 Q4 14 target."