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31 Mar 2014
USD/JPY remains stable - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observes the USD/JPY remains sidelined.
Key Quotes
"The yen has remained stable ahead of fiscal year end in Japan with USD/JPY holding above it’s 55-day moving average at just above the 102.50-level after breaking above on Friday. The yen is gradually re-weakening reflecting easing investor concerns in the near-term over both slowing economic growth in the US and China and over escalating geopolitical tensions related to developments in the Ukraine."
"The worst of the weather impacted US economic data releases from February have now been released, with incoming economic data releases from March expected to reveal that the US economy is beginning to rebound. The main US economic data releases in the week ahead will be the non-farm payrolls report, and ISM surveys for March which are all expected to provide support for the US dollar in the week ahead through lifting US yields."
Key Quotes
"The yen has remained stable ahead of fiscal year end in Japan with USD/JPY holding above it’s 55-day moving average at just above the 102.50-level after breaking above on Friday. The yen is gradually re-weakening reflecting easing investor concerns in the near-term over both slowing economic growth in the US and China and over escalating geopolitical tensions related to developments in the Ukraine."
"The worst of the weather impacted US economic data releases from February have now been released, with incoming economic data releases from March expected to reveal that the US economy is beginning to rebound. The main US economic data releases in the week ahead will be the non-farm payrolls report, and ISM surveys for March which are all expected to provide support for the US dollar in the week ahead through lifting US yields."