• it would reflect a solid US economy

Yep and keep USDJPY up at its highs.. shock

  • USD strengthening has eased for the moment
  • still not clear if concerns that strong USD would hurt US exports are merited

USDJPY drifting a little lower to 119.75 on no QE bombshells being dropped.. Not that we expected any

  • too early for BOJ to discuss any exit from QE