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Forex Flash: JPY weakness expected to continue – Danske Bank

By FXstreet.com,  January 15, 2013, 07:29:00 AM EDT

FXstreet.com (Barcelona) - The Japanese yen is recovering ground lost against the greenback on Tuesday, dragging USD/JPY to session lows in sub 88.50 levels, thus interrupting the relentless upside in the cross as of late.

"Japanese Minister of Economics, Amari, said that there are limits to Prime Minister Abe's campaign to weaken the yen. Still, the move lower in USD/JPY has been quite limited, not least considering the stretched short yen positions that are in place at present. We believe the current yen support will be temporary and expect further yen weakness ahead of as well as after the Bank of Japan meeting next week", assessed Senior Analyst Christin Tuxen at Danske Bank.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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