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USD/JPY could be capped by 112.00 in the near-term - UBS

FXStreet (Córdoba) - According to the UBS analyst team, the overall positive business sentiment in Japan could limit the incentive for BOJ to consider additional easing and therefore cap the USD/JPY at around 112 levels in the near term.

Key Quotes

“Japan's Q3 Tankan business sentiment eased slightly from the previous quarter, but nonetheless remain close to multi-year highs. The outlook for large manufacturers and non-manufacturers eased to 13 and 14 respectively (from 15 and 19 previously). Capex intentions rose by 8.6%, improving from 7.4% in the previous quarter”.

“The overall positive business sentiment could limit the incentive for BOJ to consider additional easing, and cap the USD/JPY at around 112 levels in the near term”.

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