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28 Feb 2014
Flash: Nikkie spikes to support USD/JPY - BTMU
FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ explained that "Nikkei spikes are likely to support USD/JPY buying. However, corporate price index for January increased marginally."
Key Quotes
"The recent concern surrounding emerging markets are declining even though Ukraine issues were picking up. The yen buying pressure on risk aversion was declining."
"In Japan, many of the large scale enterprises are likely to increase wage and break even rate simultaneously. Japan's trade deficit for January reached JPY 2 trillion."
"The lower side of USD/JPY was limited. Last week, overseas investors started again Japanese equity buying."
"If upcoming CPI is lower than expected, the recent USD/JPY and Nikkei buying may be weakened. The US ISM and non-farm payroll report are also significant factors surrounding USD/JPY next week."
Key Quotes
"The recent concern surrounding emerging markets are declining even though Ukraine issues were picking up. The yen buying pressure on risk aversion was declining."
"In Japan, many of the large scale enterprises are likely to increase wage and break even rate simultaneously. Japan's trade deficit for January reached JPY 2 trillion."
"The lower side of USD/JPY was limited. Last week, overseas investors started again Japanese equity buying."
"If upcoming CPI is lower than expected, the recent USD/JPY and Nikkei buying may be weakened. The US ISM and non-farm payroll report are also significant factors surrounding USD/JPY next week."