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2 Jun 2015
USD/JPY: near-term risk on broader developments – Scotiabank
FXStreet (Barcelona) - Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank, sees near-term risk for USD/JPY revolving around US growth and Fed rate hike outlook.
Key Quotes
“JPY is quiet, consolidating near fresh 12.5 year lows with limited reaction to the release of stronger labor cash earnings data.”
“Near term JPY risk will likely continue to center on broader developments, specifically the U.S. growth outlook and its implications for the Fed, as the recent decline has been largely driven by a turn in the U.S.-Japan 2Y yield spread.”
Key Quotes
“JPY is quiet, consolidating near fresh 12.5 year lows with limited reaction to the release of stronger labor cash earnings data.”
“Near term JPY risk will likely continue to center on broader developments, specifically the U.S. growth outlook and its implications for the Fed, as the recent decline has been largely driven by a turn in the U.S.-Japan 2Y yield spread.”