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23 Sep 2013
Flash: USD/JPY and the clock is ticking for the Tankan survey on October 1st- Westpac Global Strategy Group
FXstreet.com (Athens)- Westpac Global Strategy Group recommends the clock is ticking for the Tankan survey on 1 Oct. However, between now and then it’s all about the US$ and the lack of Fed action.
Key Quotes
“We stick with last week’s view - the yen should still have some room to depreciate against crosses especially as the week progresses and we start to focus more on the consumption tax hike.”
“Yen crosses should be the better play than USD/JPY given full pace QE at both the Fed and BoJ ensuring the 100 handle is tough to maintain, but buyers should return with a 97 handle.”
Key Quotes
“We stick with last week’s view - the yen should still have some room to depreciate against crosses especially as the week progresses and we start to focus more on the consumption tax hike.”
“Yen crosses should be the better play than USD/JPY given full pace QE at both the Fed and BoJ ensuring the 100 handle is tough to maintain, but buyers should return with a 97 handle.”