17 Jan 2014
Flash: USD/JPY to hit 109.00 by year end - Scotia Bank
FXstreet.com (Bali) - According to Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank, USD/JPY is expected to reach 109.00 by year-end.
Key Quotes
"JPY is flat to yesterday’s close. The BoJ released a relatively encouraging regional economic report however offseƫng this was Fitch’s assessment that the rising Japanese current account deficit highlights the importance of fiscal adjustment in Japan. We continue to expect that the BoJ will turn towards more aggressive policy later this year, likely in tandem with the introduction of the deflationary sales tax in the late spring. We hold a yearend USDJPY forecast of 109. C.S."
Key Quotes
"JPY is flat to yesterday’s close. The BoJ released a relatively encouraging regional economic report however offseƫng this was Fitch’s assessment that the rising Japanese current account deficit highlights the importance of fiscal adjustment in Japan. We continue to expect that the BoJ will turn towards more aggressive policy later this year, likely in tandem with the introduction of the deflationary sales tax in the late spring. We hold a yearend USDJPY forecast of 109. C.S."