BOJ can’t prevent yen strength - SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that USD/JPY has been dribbling lower and consensus thinking post-January is that the BOJ can’t prevent yen strength and has no ammunition left.

Key Quotes

“I think this is just the other side of the lazy yen bearish view that prevailed at the start of the year when USD/JPY had run out of upward momentum, when inflation expectations were already falling and the BOJ’s policies were backfiring. There’s a chance to try again now, which if grasped can deliver a weaker currency.”