Citigroup: Bank of Japan's Decision Unlikely to Drive Further Yen Depreciation

Deep News13:31

According to Tomohisa Fujiki of Citi Investment Research, the Bank of Japan's recent decision is not expected to act as a catalyst for additional weakening of the Japanese yen. In a research report, the rates strategist noted that market reaction to the central bank's move has been subdued. He added that the USD/JPY pair has been trading sideways just below the 160 level. Fujiki also pointed out that overnight index swaps continue to price in a high probability of around 60% for an interest rate hike at the Bank of Japan's April meeting. He further commented that if external conditions stabilize, a rate hike in April remains a possibility.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment