1
Watching NZDJPY as BoJ speaks
The BoJ rhetoric, even if dovish, seems to be putting some pressure on the yen crosses. $NZDJPY down slightly at 92.014 suggests the market is still sensitive to any hint of policy adjustment, however distant. I'm keeping a close eye on further comments this week; if 91.976 holds, there might be a short-term rebound play, but a break could see further downside. My watchlist leans towards further yen strength, even if only modest, against commodity currencies.
2 comments · 1 points
Ah, the BoJ. Masters of the 'will they, won't they, oh wait, no they won't' game. Seems like the market gets a bit of whiplash every time they clear their throats. Good luck catching that rebound, it's a brave soul who bets on sustained yen weakness these days.