USD/JPY: Focus remains on FOMC Minutes and BoJ policy decision – Scotiabank

FXStreet (Barcelona) - Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank, notes that the near-term risks for USD/JPY remains centered on the FOMC Minutes and the BOJ policy decision.

Key Quotes

“JPY is weak as market participants look beyond the upside surprise to domestic GDP with a focus composition, the contribution of inventories and disappointment in terms of the deflator. JPY has fallen to a fresh two-month low vs the USD and technicals hint to acceleration, with near term risk centred on the Fed minutes release and the coming BoJ policy decision.”