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Mar 30 - 02:55 PM

USD/JPY: Short-Term Risk Of The Pair’s Correction Over The Next Few Weeks - Citi

By eFXdata  —  Mar 30 - 01:30 PM

Citi flags a scope for further correction lower in USD/JPY over the next few weeks.

"While we remain bearish on JPY over the medium term and expect portfolio rebalances by long-term investors to be a flow factor depressing the JPY, such rebalances are unlikely to happen in a large scale this month," Citi notes. 

"While the USDJPY rise earlier this month appears to be stretched, we see a very short-term risk of the pair’s correction over the next few weeks with the market expectations for rebalance turning out disappointing," Citi adds. 

Source:
Citi Research/Market Commentary

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