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4 Mar 2015
US payrolls to make the outlook for USD/JPY clear – BTMU
FXStreet (Barcelona) - Derek Halpenny, European Head of GMR at Bank of Tokyo-Mitsubishi UFJ, views that the currently stable USD/JPY is in need of a catalyst for the next big move, focus remains on US payrolls data.
Key Quotes
“BOJ Governor Kuroda has been on the wires this morning and once again is strongly reiterating that the BOJ would not hesitate in “adjusting” monetary policy further if required. He also expressed concern over the fiscal position in Japan stating that it is tough to cope with fiscal risk once it materialises.”
“USD/JPY has remained stable and we maintain that the next big move higher can only come once the markets become more convinced on the timing of the first rate increase from the Fed. Market conviction might become clearer after Friday’s payrolls data.”
Key Quotes
“BOJ Governor Kuroda has been on the wires this morning and once again is strongly reiterating that the BOJ would not hesitate in “adjusting” monetary policy further if required. He also expressed concern over the fiscal position in Japan stating that it is tough to cope with fiscal risk once it materialises.”
“USD/JPY has remained stable and we maintain that the next big move higher can only come once the markets become more convinced on the timing of the first rate increase from the Fed. Market conviction might become clearer after Friday’s payrolls data.”