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17 Dec 2015
USD/JPY: could go higher on Kuroda - BTMU
FXStreet (Guatemala) - Analysts at Bank of Tokyo Mitsubishi, in respect of USD/JPY, explained that at long last, the Fed made its policy move and raised the Fed funds target range by 25bps.
Key Quotes:
"The updated dot chart was more hawkish than we expected even as the Fed stressed that the pace of rate hikes will be only gradual. USD/JPY has risen only modestly after the FOMC move. The focus will now turn to the BoJ’s upcoming monetary policy meeting at which it is expected to leave monetary policy settings unchanged.
USD/JPY could be lifted further if Governor Kuroda’s displays heightened concern over weakening inflation expectations. Beyond which year-end flows in increasingly illiquid holiday markets will become more important in driving USD/JPY direction."
Key Quotes:
"The updated dot chart was more hawkish than we expected even as the Fed stressed that the pace of rate hikes will be only gradual. USD/JPY has risen only modestly after the FOMC move. The focus will now turn to the BoJ’s upcoming monetary policy meeting at which it is expected to leave monetary policy settings unchanged.
USD/JPY could be lifted further if Governor Kuroda’s displays heightened concern over weakening inflation expectations. Beyond which year-end flows in increasingly illiquid holiday markets will become more important in driving USD/JPY direction."