NZD/JPY finding support - Westpac
NZD/JPY has fallen to the 76 area as expected and is now taking a breather, according to Imre Speizer, Research Analyst at Westpac.
“North Korean missile tests are lending some support to the yen. The event calendar highlight during the week ahead is CPI (1 Dec).”
“3 months ahead: The BOJ’s defacto tapering of its asset purchases (JGB purchases are running at JPY 35tr/yr, rather than the 80tr official target) should be yen supportive. In addition, the Japanese economy is seeing a pickup in consumer activity, mitigating any slippage in external demand. We target 76.”