Back
5 Sep 2014
USD/JPY still a buy on dips – Westpac
FXStreet (Edinburgh) - Robert Rennie, Analyst at Westpac, said the bank’s broader view remains on the bullish camp for the pair.
Key Quotes
“To be sure, USD/JPY is more driven by the $ than the ¥ leg at the moment”.
“However, it’s hard to see USD/JPY breaking 105.50 without a clearer sign that policy is on the move here”.
“So we maintain a buy bias but do not preclude some near term softness back into our 103.70/104.40 buy area”.
Key Quotes
“To be sure, USD/JPY is more driven by the $ than the ¥ leg at the moment”.
“However, it’s hard to see USD/JPY breaking 105.50 without a clearer sign that policy is on the move here”.
“So we maintain a buy bias but do not preclude some near term softness back into our 103.70/104.40 buy area”.