FxWirePro: USD/JPY retraces from session highs at 112.66, downside pressures continue
USD/JPY was up on Fixing demand, up from 112.27-30, all the way up to 112.65-66 on Japnaese year end fixing demand. US dollar broadly firmer, found some support after positive ADP numbers overnight and optimism from Fed …
USD/JPY was up on Fixing demand, up from 112.27-30, all the way up to 112.65-66 on Japnaese year end fixing demand.
US dollar broadly firmer, found some support after positive ADP numbers overnight and optimism from Fed Evans.
Gov Haruhiko Kuroda said that govt has not declared escape from deflation. As there is still risks that prices may fall again.
Kuroda says BoJ will continue QQE with negative rates as long as needed to meet price target of 2%. He added that there are no limits or obstacles to BoJ's monetary policy.
The pair has retraced from highs of 112.66 and is currently trading around 112.40. Downward bias intact.
On the data side, Japan will release housing start data. Market anticipates -2.2% fall m/m vs 0.2% m/m previous release.
