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USD/JPY could get a lift on further BoJ easing speculation - BTMU

FXStreet (Łódź) - Derek Halpenny, European Head of Currency Strategy at the Bank of Tokyo Mitsubishi UFJ suggests that USD/JPY could rise on the mounting speculation that the BoJ will introduce additional easing measures.

Key Quotes

"A Wall Street Journal article reported that the BOJ is now bracing itself for the annual core CPI rate to fall back below the 1.0% level in response to the fall in crude oil prices."

"The current thinking was more along the lines of the annual inflation rate remaining roughly stable a bit above 1.0% before moving higher toward the end of current fiscal year."

"While the weakness of the yen from 102.00 versus the dollar since August will help offset the disinflation from energy, there will still be an overall disinflation impact on the annual rate."

"It does appear likely that the BOJ may well have to respond to its likely miss on the annual inflation rate. The only problem is that with the BOJ already doing so much, it may well prove hard to impress the financial markets with any additional measures."

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