USD/JPY saw choppy trades over the last 24 hours. USD/JPY was last at 153.61, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
USD/JPY may break below the support at 153.30
“Markets were earlier hoping BoJ Governor Ueda dropped some hints or forward guidance on policy move at Dec MPC. But clearly those hopes were misplaced. He said that actual timing of adjustments will continue depending on developments in economic activity and prices as well as financial conditions – This is akin to policy decision being data dependent, which can justify policy action in Dec MPC.”
“Governor Ueda also spoke about focus on shunto wage negotiations going forward. Bit and pieces of news flow relating to shunto may come intermittently but typically, we may have to wait till Mar or Apr next year for confirmation of the quantum of wage increase.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.