What is the outlook for USD/JPY in the near-term?
Here is their view, courtesy of eFXdata:
NAB Research discusses USD/JPY outlook and sees the pair’s gains limited in the near-term.
“The US economic outperformance year to date has resulted in a move up in the 10y UST-JGB real spread, this means that near term USD/JPY can spend a bit of time above ¥1.06,” NAB notes.
“But if the move up in the spread is a function of relative economic outperformance, a change in Japan’s economic fortunes would favour the pair heading back towards ¥1.04 over the coming month,” NAB adds.
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