9 Jul 2014
Still shorting the USD/JPY - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, keeps the preference for selling the USD/JPY.
Key Quotes
"I've had absolutely no joy from CAD/JPY over the last few days, as the USD/CAD fall has run out of steam above 1.06 and the USD/JPY 101-103 mini-range is holding easily. Frustrating as this is, I want to stay short the yen unless USD/JPY 101 does break."
"USD/JPY continues to track US Treasury yields faithfully and 101-103 corresponds to 2.40-2.70 in 10s, roughly-speaking. Is it too simplistic to think that long USD/JPY with a stop below 101 is a positive carry way to position for the 10-yr Note range holding and eventually being tested on the upside by better data?"
Key Quotes
"I've had absolutely no joy from CAD/JPY over the last few days, as the USD/CAD fall has run out of steam above 1.06 and the USD/JPY 101-103 mini-range is holding easily. Frustrating as this is, I want to stay short the yen unless USD/JPY 101 does break."
"USD/JPY continues to track US Treasury yields faithfully and 101-103 corresponds to 2.40-2.70 in 10s, roughly-speaking. Is it too simplistic to think that long USD/JPY with a stop below 101 is a positive carry way to position for the 10-yr Note range holding and eventually being tested on the upside by better data?"