USD/JPY a big mover this week - Nomura
Analysts at Nomura explained with the Fed minutes, BOJ exit policy, OPEC and Scandies USD/JPY, has been the big mover in the G10 space this week, approaching the mid-September levels of 111.
"News flow in the US has not been particularly negative – durable goods were a little soft, and while the Fed minutes showed divisions among participants on the medium-term inflation outlook, there was little in terms of new information in the minutes. However, we still believe medium-term negative themes surround the dollar."
"The Fed remains content with market pricing being well below the DOTS, and a heavy legislative agenda risks tax disappointments and even a government shutdown as the budget deadline approaches."