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Jan 24 - 10:55 AM

USD/JPY: Chart: How To Position For BoJ Policy Risk? - BofA

By eFXdata  —  Jan 24 - 09:30 AM

Bank of America Global Research summarizes its view on JPY rates/FX vs BoJ policy risks.

"We discuss how to position for BoJ risk. Fund-supply operation can buy time but risk of early policy normalization remains.

For rates, we are (1) bearish 10yr, (2) constructive front-end, (3) like 5yr-10yr steepener, (4) BEI to rebound longer-term," BofA notes. 

(5) USD/JPY can retest low after a squeeze (like RKI put), (6) but USD/JPY below 128 is a buy for long term," BofA adds.

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Source:
BofA Global Research

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