26 Sep 2013
Flash: USD soft against the Yen; what lies ahead?
FXstreet.com (London) - Research teams at BBH look ahead through the mist towards key data from Japan next week.
Key Quotes:
“The dollar is soft against the Yen, perhaps reflecting the continued decline in the greenback's interest rate support”.
“The dollar is likely to find support ahead of the JPY97.80-JPY98.00 area”.
“…Japan reported that August corporate service prices rose 0.8% (year-over-year), which beat expectations. The July rise of 0.4% was revised to 0.6%. The August increase is the fourth consecutive rise and reinforces the sense the deflationary forces are being beat back”.
“The next focus is next week's Tankan survey, which is seen as the last remain hurdle before the formal decision to implement the retail sales tax hike”.
Key Quotes:
“The dollar is soft against the Yen, perhaps reflecting the continued decline in the greenback's interest rate support”.
“The dollar is likely to find support ahead of the JPY97.80-JPY98.00 area”.
“…Japan reported that August corporate service prices rose 0.8% (year-over-year), which beat expectations. The July rise of 0.4% was revised to 0.6%. The August increase is the fourth consecutive rise and reinforces the sense the deflationary forces are being beat back”.
“The next focus is next week's Tankan survey, which is seen as the last remain hurdle before the formal decision to implement the retail sales tax hike”.