CashBackForex
CashBackForex Representative
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USDJPY. After the rocket move of the yen from 80 to 94, the result of PM Abe's claim deflation will be defeated, a result of the anticipated yen supply. At the suggestion of the G20, he has toned down his rhetoric about the high yen value, and has backed away from his threat to buy foreign sovereign debt.
The focus in the coming week may be the forthcoming Japan-US Summit. A Japanese paper reports:
"Eyes are on whether things will go as Mr. Abe hopes or President Obama will express concern" over the policies instead of endorsing them, said Masanobu Ishikawa, general manager of spot foreign exchange at Tokyo Forex & Ueda Harlow.
"There is a risk of the dollar tumbling against the yen if the United States does not tolerate them", he added.
The decline of the yen has given a boost to the Japanese stock market, and initial public offerings have soared. After the huge run up in the yen, will there be some profit taking and or repatriation of funds prior to the US meeting this week?
Any opinions, news, research, analyses, prices, or other information contained in this post are provided as general market commentary, and do not constitute investment advice from CashBackForex and/or CashBackForexUSA
The focus in the coming week may be the forthcoming Japan-US Summit. A Japanese paper reports:
"Eyes are on whether things will go as Mr. Abe hopes or President Obama will express concern" over the policies instead of endorsing them, said Masanobu Ishikawa, general manager of spot foreign exchange at Tokyo Forex & Ueda Harlow.
"There is a risk of the dollar tumbling against the yen if the United States does not tolerate them", he added.
The decline of the yen has given a boost to the Japanese stock market, and initial public offerings have soared. After the huge run up in the yen, will there be some profit taking and or repatriation of funds prior to the US meeting this week?
Any opinions, news, research, analyses, prices, or other information contained in this post are provided as general market commentary, and do not constitute investment advice from CashBackForex and/or CashBackForexUSA
