Jpy Review

Jpy Review


Quotes from RBC Capital Markets:
JPY: The week-long rally in USD/JPY has lost momentum, as has the sell-off in US bonds that has driven it. It will probably take a run of disappointing US economic data, however, to confirm the moves are exhausted.
-Overnight the Japanese government confirmed its GDP forecasts of 2.2% and 1.7% in fiscal 2012 and 2013 respectively. Despite sustained above trend growth, CPI inflation is expected to rise to no more than 0.5% - below the BoJ objective of 1% and therefore keeping the pressure on the central bank to ease further.


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