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Goldman Sachs: USD/JPY is going to 108

Discussion in 'Fundamental Analysis' started by ForexLive, Sep 22, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Goldman Sachs on the Bank of Japan decision and what it means for the yen Ahead of the July meeting, markets were expecting the BoJ to take aggressive action to reverse the rebound in the Yen since January. But in the event, the BoJ only raised the size of ETF purchases from JPY 3.3 tn to JPY 6.0 tn per annum, something seen as incremental by markets when compared to JGB purchases of JPY 80 tn annually. Perhaps in an effort to head off adverse market fallout, Governor Kuroda announced a "comprehensive review" for today's meeting, with the aim of reviewing the effects of QQE since its introduction. In the event, the "comprehensive review" brought fundamental changes.

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