The Nikkei reports this morning that a poll from the Economic Planning Association in Japan still shows that 50% of economists expectthe BOJ to raise rates this month. The report notes that 18 out of 35 expect therate rise, up from 11 in last month's survey.
USD/JPY trades at 121.72, getting a boost from the comments from EU Alumnia on forex, underpinning signs that the G7 will not make a forceful statement this weekend on the JPY. Good offers are still stalling gains at 121.75/80 though some stops are tipped above 121.80 but more selling is tipped at 122.00. Rising US bond yields, with ten year yields now at 4.78%, up from 4.74% this morning, are helping to underpin the USD.
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