Back
1 Jul 2014
USD/JPY looks to US Payrolls – Westpac
FXStreet (Edinburgh) - According to analysts at Westpac Global Strategy Group, the US Non farm Payrolls due on Friday will be the main catalyst for the pair’s price action in the very near term.
Key Quotes
“Unease for USD/JPY longs is growing somewhat as the pair nudges to 6 week lows”.
“To be sure, US yields are still broadly range-bound, but risks on US payrolls (Thu) seem to be for a downside surprise, which would see a larger reaction on USD/JPY than other majors”.
“Domestically, PM Abe has now fully unveiled the revised third arrow plan on structural reform to limited fanfare”.
“Still, it would take a real clanger on NFP to sustain a break of 100.80/00”.
Key Quotes
“Unease for USD/JPY longs is growing somewhat as the pair nudges to 6 week lows”.
“To be sure, US yields are still broadly range-bound, but risks on US payrolls (Thu) seem to be for a downside surprise, which would see a larger reaction on USD/JPY than other majors”.
“Domestically, PM Abe has now fully unveiled the revised third arrow plan on structural reform to limited fanfare”.
“Still, it would take a real clanger on NFP to sustain a break of 100.80/00”.