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Jun 28 - 12:55 PM

USD/JPY: Supported By Higher US-Japan Short-Term Rates Differentia; Staying Long For 115 - Credit Agricole

By eFXdata  —  Jun 28 - 10:45 AM

Credit Agricole CIB Research maintains a bullish bias on USD/JPY, expressing this view via holding a long exposure in spot targeting a move towards 115.

"USD/JPY remains supported, by the push higher in the US-Japan short-term rates differential. Indeed, while the US-Japan yield box is a major driver of the exchange rate, so too is the US-Japan short-term rates differential," CACIB notes. 

"In the medium term, we continue to think a gradual move towards the exit by the Fed will see USD/JPY track higher to 115 and remain long USD/JPY, as a trade recommendation," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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