Back
27 Mar 2015
USD/JPY: Fairly neutral from current levels - RBS
FXStreet (Bali) - RBS made some comments regarding Japanese inflation figures coming up, noting that they remain fairly neutral on USD/JPY from current levels.
Key Quotes
"During the Asia session, Japan releases a plethora of data including the latest CPI for February. While a downside miss in CPI may on the margin increase the risk that the BoJ loses confidence in the expected upward path of inflation, the BoJ appears content to wait and assess progress in the economy before making any further QE steps, and the recent pickup in investment outflows may dampen upside potential in JPY. That leaves us fairly neutral on USD/JPY from current levels, with an upside bias."
Key Quotes
"During the Asia session, Japan releases a plethora of data including the latest CPI for February. While a downside miss in CPI may on the margin increase the risk that the BoJ loses confidence in the expected upward path of inflation, the BoJ appears content to wait and assess progress in the economy before making any further QE steps, and the recent pickup in investment outflows may dampen upside potential in JPY. That leaves us fairly neutral on USD/JPY from current levels, with an upside bias."