USD/JPY unlikely to fall below 110 – Nippon Life’s CIO

CIO of Nippon Life Insurance Company, Japan’s the second largest life insurance company, was crossing the wires via Reuters today, commenting on the USD/JPY outlook and on company’s investment plans.

Key Quotes:

Not expecting USDJPY to fall below 110

Nikkei 225 bottoming between 15000-16000

Will likely step up currency hedged foreign bond investment

Considering buying semi-core European govt bonds

Will likely buy more USD denominated credit products