- “Close to-term USD/JPY actions will rely on how the Ukraine scenario unfolds, however the widening divergence in financial coverage between Japan and the US will doubtless restrict the danger of a robust JPY. Market consideration on Japan’s inflationary pressures can be on the rise, however we don’t anticipate an acceleration of inflation within the Tokyo CPI knowledge launch subsequent Friday”
“We thus keep our bearish view on JPY, despite the fact that there are near-term headline dangers from the scenario in Ukraine. We keep our USD/JPY name spreads, whereas ready for a possibility for EUR/JPY lengthy positions if the scenario in Ukraine calms down”
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ps. Tokyo space CPI is due on Friday 25 February 2022 Japan time
- 2350 GMT on Thursday 24 February 2022
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