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USD/JPY rangebound near term – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng believes the pair could remain in a consolidative pattern in the near term.

Key Quotes

“Expect the pair to remain trapped in recent ranges amidst background support from still steady global risk appetite levels”.

“Intra-day, with the US data calendar dry, look to remarks from the Fed’s Powell for possible cues”.

“Note that Powell will be the last Fed appearance with the blackout period ahead of next week’s FOMC. In the interim, the USD-JPY may continue to be moored around the 120.00 handle”.

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