The Japanese yen has had wind taken out of its sails temporarily but better Q2 domestic data should preclude JPY short accumulation, limiting yen depreciation, as reported by CIBC Capital Markets. A market increasingly comfortable in discounting broad reflationary dynamics “Recent JPY performance has proved largely distinct from domestic Japanese data. However, there are positive fundamental signs to consider. Exports have held up well while the return of the headline Tankan to positive territory (large manufacturing sentiment), points towards increasingly supportive GDP dynamics.” “The long awaited BoJ policy review concluded the need for a formal +/- 25bp range around their long held 0.0% 10-year target threshold. The formalising of the threshold compares with references to “around 0%” previously. However, the operation of the target range may not be totally symmetrical, namely the bank may prove more active towards the top of the range rather than the bottom.” “The prospect of improving domestic data should prompt JGB yields to remain in the upper quartile of the potential trading band. Such a move should preclude additional JPY short accumulation and allow the JPY to remain roughly steady against the USD into mid-year.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Germany’s BDI lowers 2021 GDP forecast to 3.0% from 3.5% FX Street 2 years The Japanese yen has had wind taken out of its sails temporarily but better Q2 domestic data should preclude JPY short accumulation, limiting yen depreciation, as reported by CIBC Capital Markets. A market increasingly comfortable in discounting broad reflationary dynamics "Recent JPY performance has proved largely distinct from domestic Japanese data. However, there are positive fundamental signs to consider. Exports have held up well while the return of the headline Tankan to positive territory (large manufacturing sentiment), points towards increasingly supportive GDP dynamics." "The long awaited BoJ policy review concluded the need for a formal +/- 25bp range… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
