OctaFX | OctaFX Forex Broker
Open trading account
Back

Key details on BoJ and where USD/JPY could go - BAML

FXStreet (Guatemala) - Shusuke Yamada, analyst at Bank of America Merrill Lynch explained that although various factors support the BoJ’s optimistic outlook, JPY strength on risk aversion and JPY weakness on further easing appear to be offsetting.

For an insight to the recent BoJ meeting, see here (BoJ: Little clues on further easing by month-end).

Key Quotes:

"We think such conditions will hang over the BoJ's monetary policy meeting on 30 October. Although the options market continues to favor JPY strength, we think speculation for further easing could gain traction through end-October.

We continue to expect USD/JPY to rise to 125 by year-end as the Fed’s dovish shift is likely to be countered by the BoJ’s dovish shift with an increasing possibility of additional easing if JPY rallies toward 115 vs. USD. "

For an insight to the recent BoJ meeting, see here (BoJ: Little clues on further easing by month-end).

GBP/USD hits a fresh 2-week high

GBP/USD pulled back to 1.5282 and rebounded, hitting a new 2-week high at 1.5327. The pair failed to rise further and currently it stands at 1.5310/15, near the same levels it had been trading during the last six hours.
Read more Previous

EUR/USD lacks follow-through

EUR/USD continues to seesaw within its daily range, showing an erratic behaviour and unable to get follow through.
Read more Next
Start livechat