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28 Mar 2014
Yen lingering amidst uncertainty – BTMU
FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ explained that the Yen appreciation factors remain the lingering uncertainty surrounding Crimea and concerns over weak growth in China.
Key Quotes:
“Global risk-off sentiment may support yen buying. However, before the NFP report, the lower side of USD/JPY will be limited."
"Yen selling by domestic investors may drive USD/JPY buying. The most significant indicator from Japan for the yen is probably the March Tankan survey."
"A better Tankan capex DI may support risk appetite and hence fuel USD/JPY buying. A worse Tankan capex DI may also support USD/JPY buying as market expectations for monetary easing will increase. These factors and the potential for better employment data in the US point to a move higher, perhaps over the 103.5 level."
Key Quotes:
“Global risk-off sentiment may support yen buying. However, before the NFP report, the lower side of USD/JPY will be limited."
"Yen selling by domestic investors may drive USD/JPY buying. The most significant indicator from Japan for the yen is probably the March Tankan survey."
"A better Tankan capex DI may support risk appetite and hence fuel USD/JPY buying. A worse Tankan capex DI may also support USD/JPY buying as market expectations for monetary easing will increase. These factors and the potential for better employment data in the US point to a move higher, perhaps over the 103.5 level."