The USD/JPY push is unlikely to last to year end says RBC. It expects the rally to fade, just like the February/March one did. For now, the bank says long USD/JPY positioning is rapidly building-up in anticipation of likely future Japan PM Shinzo Abe asking the BOJ to consider interest rates at or below zero to encourage lending. That's something RBC sees a very low probability of actually happening. USD/JPY at 81.20.
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