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21 Feb 2014
Flash: USD/JPY supported by UST yields - OCBC Bank
Emmanuel Ng, FX Strategist at OCBC Bank notes that USD/JPY was supported by US Treasury yields, as BoJ becomes more dovish.
Key Quotes
"Firmer US Treasury yields supported the pair on Thursday while this morning, the BOJ MPC minutes proved more dovish than neutral (noting that the central bank must make clear that the current easing in monetary policy is not strictly limited to two years).”
“USD/JPY meanwhile may continue to remain undulating, supported near the 100-day MA (101.62) while the 103.00 resistance may continue to shelter the pair pending further cues."
Key Quotes
"Firmer US Treasury yields supported the pair on Thursday while this morning, the BOJ MPC minutes proved more dovish than neutral (noting that the central bank must make clear that the current easing in monetary policy is not strictly limited to two years).”
“USD/JPY meanwhile may continue to remain undulating, supported near the 100-day MA (101.62) while the 103.00 resistance may continue to shelter the pair pending further cues."