What is keeping USD/JPY bid? – ING
Economists at ING analyze USD/JPY outlook ahead of Bank of Japan’s meeting this Friday.
Few expect any substantial move in BoJ policy
The prospect of a prolonged period of unchanged rates is depressing US interest rates and cross-market volatility and leaving carry trade strategies very much en vogue. This – plus Brent trading close to $95/bbl – is keeping the likes of USD/JPY bid and few expect any substantial move in Bank of Japan policy this Friday.
If there is to be a further move from Japan – it will likely come in late October when new economic forecasts are released.
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