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USD/JPY consolidating around 120.00 pre-FOMC

FXStreet (Edinburgh) - In the view of FX Strategist at OCBC Bank Emmanuel Ng, the pair could remain sidelined around the 120.00 handle ahead of the FOMC meeting this evening.

Key Quotes

“Market chatter continues to imply a cautious BOJ with respect to the macroeconomic prognosis although we (in contrast to where the option market is loaded) are less than wholly convinced that additional QQE would be initiated on Friday”.

“In the interim, the pair may continue to find comfort towards the 120.00 handle ahead of the FOMC tonight”.

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