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USD/JPY will see short-term volatility – TD Securities

FXStreet (Barcelona) - The Research Team at TD Securities see the USD/JPY pair experiencing short-term volatility as BoJ meets this week.

Key Quotes

“USDJPY has been all over the shop, reaching an overnight high of 117.06 as Asian equities sold off upon the release of the data, then dropping to 115.46 as the Nikkei sold off, and eventually recovering to 116.30.“

“Prime Minister Abe is said to be evaluating the situation calmly before announcing the widely expected postponement of the sales tax hike and calling snap elections.”

“The BoJ meets this week, and although they are not expected to introduce any new measures after last month’s announcements, their characterization of the economic outlook for growth and inflation may well weigh on the JPY.”

“In all, USDJPY will see a fair bit of volatility in the short-term, the overall medium-term trend remains higher.”

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