USD/JPY is awaiting Central Banks - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Analysts at Scotiabank explained that JPY is weak, underperforming along with EUR and gold in an environment of broad-based risk appetite.

    Key Quotes:

    "Sentiment remains the primary driver for JPY as we note a tight correlation to longer term (1Y) risk reversals and remarkable disconnect to the 2Y yield spread—at 110bpts implying a USD/JPY level in the 122-124 range.

    Near-term risk is limited ahead of next week’s Fed and BoJ policy decisions."
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