OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: USD/JPY Q2 target at 97 – JPM

“The main driver of JPY weakness has been an 'inflation expectations bubble' spurred by unrealistically high hopes for Abenomics,” say Global FX team at JP Morgan, with USD/JPY targets now “raised to 94 for Q1, 97 for Q2 and Q3, and 96 for Q4.”

“We expect the JPY will continue to decline in trade-weighted terms, but in a choppy fashion,” they add, expanding: “In particular, investors are likely to be disappointed by the modest outcome we expect from the BoJ’s April 4 meeting (the first under the new Governor and Deputy Governors),” they conclude.

Forex: EUR/USD flat around 1.3060 ahead of Italy bonds auction

While Australia's PM Gillard is currently speaking at Brisbane, and ahead of another busy day for EUR/USD with key Italian sovereign bonds auction and second day of FED's Bernanke testifying on the Semiannual Monetary Policy Report before the House Financial Services Committee at 15:00 GMT, in Washington DC, the pair hits fresh session highs at 1.3074, off session lows at 1.3041, flat so far for the Asia-Pacific.
Read more Previous

Forex: GBP/USD threatening 1.5100 support

Cable is currently at 1.5107 near session lows at 1.5100 round, retracing from yesterday's highs at 1.5220, and only 37 pips above record 30-month lows printed Monday. Pound is the weakest currency among majors in last few days, ahead of another important day for the GBP/USD, as Bernanke will take the stage for second day testifying at 15:00 GMT before the House Financial Services Committee. But before that, for the London session ahead, MPC member Bean will speak at 09:20 GMT, followed by UK second estimate GDP q/q at 09:30 GMT, along with Prelim business Investment q/q and Index of Services.
Read more Next
Start livechat