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USD/JPY might experience short term stress – Nomura

FXStreet (Barcelona) - Research Analysts at Nomura see the political uncertainty putting pressure on USD/JPY in the short term.

Key Quotes

“Market views on the expected impact on USD/JPY after the possible decision to delay the tax hike are divided.

“Investors view the decision to postpone the tax hike as neutral or negative for JGBs, and if the magnitude of JGB selling accelerates, this could be negative for Japanese equities and USD/JPY, as happened in May and June 2013”

“In addition, increased political uncertainty could cause position unwinding, putting pressure on USD/JPY in the short term. In the short term, we would not rule out these downside risks for USD/JPY, if PM Abe decides to delay the scheduled tax hike and call a snap election.”

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