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22 Feb 2013
Forex Flash: USD/JPY watches Obama talks - OCBC Bank
Emmanuel Ng of OCBC Bank notes that USD/JPY may continue to exhibit a neutral/heavy bias in the near term ahead of the Abe-Obama meeting and with market focus currently diverted towards the Fed.
He writes, “As such, a further consolidation towards 91.40 in the near term cannot be discounted although fresh dovish comments from Abe (note the probable unveiling of the potential BOJ governor next week) may incite another renewed round of JPY vulnerability.”
He writes, “As such, a further consolidation towards 91.40 in the near term cannot be discounted although fresh dovish comments from Abe (note the probable unveiling of the potential BOJ governor next week) may incite another renewed round of JPY vulnerability.”