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Demand for the JPY remains subdued – OCBC Bank

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, expects the Japanese currency to keep trading on the defensive vs. the greenback.

Key Quotes

USD-JPY may continue to knock on the door at 110.00 with a fair degree of containment on the risk aversion front and ahead of the US labor market numbers on Friday”.

“The Tankan numbers came in mixed to mildly supportive (big firms expect to increase CAPEX by a more than expected 8.6% in the current FY) but this failed to grant any traction to the yen”.

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