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26 Feb 2013
Forex Flash: USD/JPY, don’t believe the BoJ will deliver - Westpac
With USD/JPY enjoying a nice rebound last at 92.72 from fresh Feb lows at 90.84 following mixed election results in Italy, Westap analysts say: “our view on USD/JPY has not changed – see e.g. 'Westpac Strategy Trade Recommendation: Sell USD/JPY via options' on 13 Feb.”
“We simply don’t believe the BoJ will deliver on very high expectations,” notes Sydney based Westpac analyst Sean Callow, adding: “A slide in US yields also adds weight to the pair, with the 10 year T-note yield rebuffed at 2.00%, dropping to 1.86%.”
“We simply don’t believe the BoJ will deliver on very high expectations,” notes Sydney based Westpac analyst Sean Callow, adding: “A slide in US yields also adds weight to the pair, with the 10 year T-note yield rebuffed at 2.00%, dropping to 1.86%.”