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Mar 01 - 02:55 PM

USD/JPY: Can Spend A Bit Of Time Above 106 Before Heading Back Towards 104 In 1-Month - NAB

By eFXdata  —  Mar 01 - 01:30 PM

NAB Research discusses USD/JPY outlook and sees the pair's gains limited in the near-term.

"The US economic outperformance year to date has resulted in a move up in the 10y UST-JGB real spread, this means that near term USD/JPY can spend a bit of time above ¥1.06," NAB notes. 

"But if the move up in the spread is a function of relative economic outperformance, a change in Japan’s economic fortunes would favour the pair heading back towards ¥1.04 over the coming month," NAB adds. 

NAB Research/Market Commentary


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