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USD/JPY flirting with 104 handle - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the USD/JPY continues to flirt near 104 handle.

Key Quotes

"…Having broken above its multi-month range but failing to shift higher still. Rumours today swirled around how Japan would implement the second 5% consumption tax hike (currently planned for October 2015) and if PM Abe would move towards a more staggered increase."

"Helping to stabilize USD/JPY were comments from Japan post that there will be no drastic asset class shifts as the fund wants to continue its policy of steady asset management. There was no data released and equities were flat."

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