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2 Apr 2015
USD/JPY neutral stance persists – Westpac
FXStreet (Edinburgh) - Robert Rennie, Strategist at Westpac, reiterated his the neutral perspective on USD/JPY.
Key Quotes
“Very little shift in our bias here - we have run with a neutral bias, with a view to buying a modest dip for a number of weeks”.
“Waning US data and yield support, increased oil price volatility associated with tension in Yemen/ Gulf of Aden and thinner market conditions around month end/ quarter end/ year end plus Easter vacation all suggest caution here”.
“We remain of the view that the broad 117-119 range represents dips to buy. We would remain patient here”.
Key Quotes
“Very little shift in our bias here - we have run with a neutral bias, with a view to buying a modest dip for a number of weeks”.
“Waning US data and yield support, increased oil price volatility associated with tension in Yemen/ Gulf of Aden and thinner market conditions around month end/ quarter end/ year end plus Easter vacation all suggest caution here”.
“We remain of the view that the broad 117-119 range represents dips to buy. We would remain patient here”.