Deutsche Securities in Tokyo say USD/JPY is near the bottom of their 110 to 115 range
- May thus be interest from investors to buy on dips
- See no change in trend of USD/JPY rising in time
- Cite Japan-U.S. interest rate differentials widening
On the Bank of Japan:
- A precondition for higher USD/JPY is continuation of Bank of Japan easy monetary policy
- Look for confirmation of this at next week's BOJ meeting
110 a key level in the near term given speculation about BOJ policy shift and dollar weakness
-
via Bloomberg