29 Jan 2014
Flash: USD/JPY to get back above 105? - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale offers a rounded update of major fx pairs.
Key Quotes
"The USD/JPY bounce needs to break back above 105 before it represents more than meandering within a range, though if 10yr treasury yields have indeed put in a short-term base, that probably applies to USD/JPY too."
"EUR/USD likewise is in a range, but a break of 1.35 would suck bears in. We will stay short AUD/USD and long USD/CAD through the improved risk appetite, however, and through tonight's RBNZ meeting, where we don't expect a rate hike (yet)."
"In the UK, Mark Carney gives a speech in Scotland today where press focus will be on what he says about the dangers of badly-constructed currency unions, and where he would doubtless rather just reinforce his desire to resist any pressure for an early rate hike. The ECB releases money supply data, Norway releases unemployment data."
Key Quotes
"The USD/JPY bounce needs to break back above 105 before it represents more than meandering within a range, though if 10yr treasury yields have indeed put in a short-term base, that probably applies to USD/JPY too."
"EUR/USD likewise is in a range, but a break of 1.35 would suck bears in. We will stay short AUD/USD and long USD/CAD through the improved risk appetite, however, and through tonight's RBNZ meeting, where we don't expect a rate hike (yet)."
"In the UK, Mark Carney gives a speech in Scotland today where press focus will be on what he says about the dangers of badly-constructed currency unions, and where he would doubtless rather just reinforce his desire to resist any pressure for an early rate hike. The ECB releases money supply data, Norway releases unemployment data."