More from FXstreet.com

Forex Flash: USD/JPY 88.00 + unlikely to be revisited this week - NAB

By FXstreet.com,  January 08, 2013, 04:18:00 PM EDT

FXstreet.com (Barcelona) - USD/JPY's corrective run broke Jan 4 low this Tuesday, taking the spot rate as low as 86.97 before a tepid bounce up to 87.08 at the NY close.

As NAB notes, "Yen strength comes despite yesterday's news, that the upcoming fiscal stimulus plan is likely to be worth about 2% of GDP, and a Reuters source reports indicating that the BoJ is to consider setting a 2% inflation goal at its upcoming Jan 21-22 meeting (as per the new government's request) and rumour of additional asset purchases at that meeting."

According to the Australian-based bank, Yen strength "is a reminder of just how much is now priced in to the current exchange rates and why we doubt we will see the recent highs above Y88 quickly revisited let alone extended."




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

Referenced Stocks:



Latest News Video

Private Wealth Revives, Managers Face Higher Costs
Private Wealth Revives, Managers Fa...
Private Island on the Thames: $11.7 Million
Private Island on the Thames: $11.7...
Take Control Of Your Wealth
Take Control Of Your Wealth         
How to Avoid Getting Caught Pre-Defection
How to Avoid Getting Caught Pre-Def...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.




Most Active by Volume:

Company Last Sale Change Net / %
S $ 7.14 0.18  2.46%
PFE $ 29.58 0.18  0.61%
MU $ 13.84 0.09  0.65%
BAC $ 13.245 0.03  0.19%
SIRI $ 3.46 0.06  1.76%
BBRY $ 14.14 0.70  4.72%
NWSAV $ 15.71 unch
NVDA $ 15.045 0.65  4.48%