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USD/JPY above 117 – OCBC

FXStreet (Barcelona) - The Research Team at OCBC note USD/JPY trading above 117 in early Asian session as JPY-specific weakness continues.

Key Quotes

“Higher Treasury prices failed to dent the USD-JPY perceptibly on Monday with JPY-specific weakness seen continuing to provide lift for the pair in the near term with the USD-JPY above 117.00 in early trade on Wednesday in Asia.”

“In the near term, with election chatter expected to remain very audible (note Kuroda press conference at 0530 GMT), any bounce towards 116.00 may be met with good buying interest, especially if the FOMC minutes tonight tilt the USD further. “

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