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Jun 10 - 08:55 PM

USD/JPY - Bears Have It Easy On Gloomy Fed Forecasts

By Krishna K  —  Jun 10 - 06:40 PM
  • USD/JPY opens 0.55% lower as Fed vows to keep policy easy to support economy

  • Undermined by Fed's dour economic projections, grim outlook nW1N2CX03R

  • Fed makes no yield curve control announcement but Powell opens possibility

  • Japan investors expect Fed to anchor yields, move may come later this year

  • Falling U.S. yields, possibility of YCC to cap USD rallies nL1N2DN2VL

  • Support @ 106.74-90 may hold initial test after 2.6% fall from 109.85 Fri hi

  • Loss opens 106.35-45; resistance 107.45-50, 107.80-90


Source:
Refinitiv IFR Research/Market Commentary

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