OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: Importers flock to buy USD/JPY on dips – UBS

FXstreet.com (Barcelona) - According to the UBS Research Team, “Retail clients have been active sellers of yen but corporates and institutional clients have been slow to react to the slide of the currency in the last six months. As a result, importers now are buying the USD/JPY and yen crosses on any real dips – we expect such import demand for foreign exchange will continue.”

Moreover, while lifers remain conservative and seem unlikely to increase their foreign asset holdings or lower their hedge ratios quickly given the costs of hedging remain low, the start of the new financial year has resulted in asset managers putting more funds to work abroad.

Forex: USD/JPY still locked below 100.00

The USD/JPY remains locked below the 100.00 mark despite the green light given by the G20 to the BoJ monetary policy as the central bank has no intention of deliberately weaken the Yen. Several upside attempts were capped at 99.80/90 area, stalling there in spite of Japanese insurers discussing their divestment out of JGBs. The pair is currently trading at 99.70 area.
Read more Previous

Forex: EUR/CHF stalls ahead of 1.2200

In an uneventful session, the euro managed to advance versus the franc and reached a 10-day peak as the Swiss currency weakened across the board.
Read more Next
Start livechat