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Yen falling for second session - Scotabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Analysts at Scotiabank noted that JPY is weak and falling for a second consecutive session.

    Key Quotes:

    "It begins to retrace a portion of its recent rally."

    "Sentiment and positioning have been the primary drivers of JPY strength on a year-to-date basis, pushing CFTC longs to fresh record highs and leaving investors vulnerable to the risk of a turn."

    "The improvement in China’s growth prospects should alleviate some of the Fed’s concerns and help to temper its caution, providing for a reaffirmation of central bank policy divergence vs. the BoJ. We see rising downside risk for JPY."
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