Via eFX comes thoughts on USD/JPY from Danske
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Danske Research discusses USD/JPY outlook andcontinues to see the pair trading around 107-110 range in the near-term.
"USD/JPY have been thrown back and forth by moves in global risk aversion, commodities and domestic fiscal response on the one side (stronger JPY), but also a very weak domestic economy and recently a global stabilization in risk sentiment (weaker JPY). Looking ahead, H2 2020 continues to be the time where USD/JPY could move slightly higher as we expect an economic rebound in Q4," Danske notes.
"We continue to expect 112 in 6M and 12M(unchanged), which still reflects our view of a strong USD. EUR/JPY has seen a sudden resurgence based on renewed EUR-optimism over May and June.Near term, we see USD/JPY as trading in 107-110 range with difficulties breaking through 110 as risk sentiment looks more uneven," Danske adds.
