The BoJ put pressure on the Yen and Trump “billy no mates” at the G20
The Bank of Japan seem happy to stand out from the pack as the most dovish of the major Central Banks with a continuing commitment to asset purchases, while most others are looking to scale back their asset purchase programs. This has put significant pressure on the Yen, and subject to normal market conditions we would expect this to continue.
With yield spreads widening, Yen pairs may once again become a clearer proxy for risk appetite with Yen strength reserved for “risk off” events and carry unwinds. The path of the Greenback remains halted by the Trump administration, but that being said we still believe the US economy retains economic momentum and that Janet Yellen will stick to the Fed’s official guidance this week, which could in turn prove Dollar supportive.
To continue reading to see analysis and charts for major currency pairs then please add your details below.
If you are already a subscriber, please click here.
Enter your subscribed email address to confirm your subscription.
If you haven't already subscribed, please click here.
(You will only have to do this once per device)