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JPY weakness could continue into 2015 - Nomura

FXStreet (Bali) - Yujiro Goto, FX Strategist at Nomura, notes that JPY weakness could continue into 2015, even after breaking 110 on Wednesday.

Key Quotes

"Key politicians have not stated that the current level is bad for the economy, while Mr Amari warned about the excessive movement, and BOJ Governor Kuroda repeated that JPY weakness is not negative for the economy"

"We doubt the government will embark on JPY buying intervention at this point, and monetary policy divergence remains clearly positive for USD/JPY."

"Thus, we judge JPY weakness could continue into 2015, even after breaking 110 today, while policymakers‟ comments may slow the pace of USD/JPY appreciation."

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