The Bank of Japan next meet on December 19 and 20:
Comments from CS come via eFX. Analysts are focused on Federal Reserve developments while the BOJ hold policy steady.
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- Credit Suisse adopts a cautious bias on USD/JPY in the near-term.
- "Our caution applies to USDJPY, which came close to our current range low expectation at 133.10 last Friday but has since bounced to close to our USDJPY 138.00 year-end target. The speed of the moves and reversals combined with extreme data sensitivity make this a treacherous environment," CS notes.
- "We see low odds of the 19-20 December BOJ meeting being a relevant factor for USDJPY, and continue to expect wider USD direction linked to Fed policy to dominate price action," CS adds.
