14 Jan 2014
Flash: JPY on the back-foot - Scotiabank
FXstreet.com (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the JPY being on the back foot while full markets are back to work after Tokyo’s holiday.
Key Quotes:
“JPY has weakened 0.6% as traders come back from vacation and force a retracement of yester- day’s gains. Fundamental data was weak, with Japan’s current account deficit widening to a fresh record of ¥593bn in part due to a trade deficit that increased
to ¥1.3trn. “
“ This release uggests that the fundamentals contin-ue to support long-term JPY weakness. C.S.”
Key Quotes:
“JPY has weakened 0.6% as traders come back from vacation and force a retracement of yester- day’s gains. Fundamental data was weak, with Japan’s current account deficit widening to a fresh record of ¥593bn in part due to a trade deficit that increased
to ¥1.3trn. “
“ This release uggests that the fundamentals contin-ue to support long-term JPY weakness. C.S.”