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It's Time To Buy Yen

By Helen RushForexJun 30, 2017 07:06AM ET
www.investing.com/analysis/why-it's-time-to-buy-yen-200198380
It's Time To Buy Yen
By Helen Rush   |  Jun 30, 2017 07:06AM ET
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The market has focused on one key issue — the tone of central bankers' comments. That's why we have seen euro and pound rising, while the yen fell against US dollar.

The ECB and the BOE adopted a more hawkish position than the market expected, the Fed didn't surprise by the words "gradual rate increase", and the BOJ keep saying it's too early to remove the stimulus.

However, the USD/JPY moves on Thursday make us think the reversal is coming. Weaker-than-expected GDP coupled with decreasing Personal Consumption point to a subdued inflation pressure. And it means the Fed has no reason to rush with further rate increases.

On Friday, we'll see a series of reports from Japan and the USA. Stronger Japanese inflation coupled with weaker Chicago PMI and Personal Spending from the US may support the USD/JPY selloff with the nearest target at 111.00 once 111.70 support is broken.

It's Time To Buy Yen
 

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It's Time To Buy Yen

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