18 Sep 2013
Flash: Yen to remain in defensive - BTMU
FXstreet.com (London) - Lee Hardman at The Bank of Tokyo Mitsubishi forecasts the reaction son FOMC.
Key Quotes:
“US dollar selling heading into the meeting has served to reduce downside risks following the outcome of the meeting, having already discounted a more dovish outlook. Should the Fed deliver the dovish taper, higher risk
emerging market currencies are most likely to extend their recent rebounds in the near-term while the yen should remain on the defensive as overall risk sentiment improves alongside building evidence of strengthening global
growth”.
Key Quotes:
“US dollar selling heading into the meeting has served to reduce downside risks following the outcome of the meeting, having already discounted a more dovish outlook. Should the Fed deliver the dovish taper, higher risk
emerging market currencies are most likely to extend their recent rebounds in the near-term while the yen should remain on the defensive as overall risk sentiment improves alongside building evidence of strengthening global
growth”.