31 Jan 2014
Flash: EM volatility leave Yen vulnerable to spikes - BTMU
FXstreet.com (Barcelona) - Derek Halpenny, European Head of Currency Strategy at the Bank of Tokyo Mitsubishi UFJ believes that EM Volatility leave Yen vulnerable to spikes.
Key Quotes
“PM Abe spoke today and repeated that his focus remains moving toward an increase in salaries. Governor Kuroda also spoke stating that he believed the positive impact on net exports from the weak yen has been slow to materialise due to higher energy imports and weak demand from Asia.”
“The EM volatility leaves the yen vulnerable to further spikes higher but today’s data should serve as a reminder that the BOJ and the government remain on track in their attempts to lift inflation and that will help to limit the degree of yen gains from here.”
Key Quotes
“PM Abe spoke today and repeated that his focus remains moving toward an increase in salaries. Governor Kuroda also spoke stating that he believed the positive impact on net exports from the weak yen has been slow to materialise due to higher energy imports and weak demand from Asia.”
“The EM volatility leaves the yen vulnerable to further spikes higher but today’s data should serve as a reminder that the BOJ and the government remain on track in their attempts to lift inflation and that will help to limit the degree of yen gains from here.”