#USDJPY @ 128.355 can trade down to 126.50 before BoJ’s meeting – ING
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The Japanese Yen remains very much in demand ahead of Wednesday’s BoJ decision. In the view of economists at ING, the USD/JPY pair could slump to 126.50.
“Further adjustments to its JGB targets are in focus and investors are positioning for this with higher longer-dated swap rates.”
“10-year Japanese swap rates have pushed another 5 bps higher overnight to the highest levels in a decade.”
“We suspect USD/JPY can trade down to 126.50 before Wednesday.”
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