USD/JPY: Room to keep drifting higher – MUFG USDJPY Banks
No clear hawkish signal to fuel a renewed pick-up in speculative demand for JPY
“There was no clear hawkish signal to fuel a renewed pick-up in speculative demand for the Yen in the near-term. It leaves the Yen vulnerable to further a correction lower while yields outside of Japan are rising again in anticipation that theand other major central banks may have to deliver more rate hikes to bring inflation back down.”
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