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Nov 13 - 12:55 PM

JPY: Strong JPY Set To Continue As ‘Asia Factor’ Intact; Where To Target? - Danske

By eFXdata  —  Nov 13 - 11:15 AM

Danske Research maintains a limited bullish bias on JPY, expecting USD/JPY to remain in 103-105 range over the coming weeks.

"We keep our expectations for further JPY strength. This strength is not due to a negative view on global risk sentiment but rather that we expect Asian outperformance to help JPY versus USD. Thus, the key risk to our profile becomes a shock that steepens the US yield curve and/or raises oil prices into the high USD50s per barrel for Brent and/or substantial USD strength," Danske notes.

"We attach a low probability to all of these. Jointly, this limits upside risk in EUR/JPY from here, as well, in our view," Danske adds. 

Source:
Danske Research/Market Commentary

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