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USD/JPY firmer above 106.00 – OCBC Bank

FXStreet (Edinburgh) - The greenback continues its solid march north on Tuesday, pushing the USD/JPY beyond the 106.00 handle, commented Emmanuel Ng, FX Strategist at OCBC Bank.

Key Quotes

“Softer than expected 2Q GDP numbers out of Japan coupled with the firming dollar saw the USD-JPY surfacing above 106.00 on Monday”.

“BOJ MPC minutes this morning provided little fodder for investors with the acknowledgement of export weakness only likely to play into the hands of yen bears”.

“With the pair now having taken out the year-to-date highs, look towards 106.85 multi-session if USD strength continues to permeate the markets”.

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