Forex Fash: Will investors buy on Japan's policy facts? - Nomura
In the investment community, 'buying the rumour and selling the fact' is a usual practice, the clearest example being the rise in USD/JPY this year. According to Richard Koo, chief economist at Nomura, "whether investors will “buy on the fact” will depend on remaining two initiatives."
Japan's retail trade figures for the month of January came at +2.3% on a month by month basis, surpassing the +0.9% expected number. Meanwhile, the yearly read came at -1.1% vs. -1.5% y/y expected. USD/JPY traders have retaken the 92.00 handle, where the pair operates quiet after the release.