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USD/JPY destined to at least the 103 handle - BTMU

FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ highlighted that that the JPY is the weakest currency amongst major currencies.

Key Quotes:

"Next week, USD/JPY will move upward to reach 103-level, we expect. The US consumer price index and July FOMC minutes are key triggers of USD/JPY next week."

"The recent food price hiking was calming down and may be just a noise as the Fed chief mentioned in June. In the upcoming minutes, the normalization of monetary environment may be discussed and market will be aware of the timing of the Fed’s policy rate hike. The US 2yr yield widening may support USD/JPY buying further."

United States 30-Year Bond Auction dipped from previous 3.369% to 3.224%

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