Snippet from UBS on the BOJ and yen:
USD/JPY not stabilised yetmany Japanese companies expect the average USD/JPY exchange rate to be close to 145but there is scope for significant swings stillsee 140 to 150 as the new trading rangesay that there is reluctance to build substantial positions in yen crosses right nowon the Bank of Japan, UBS expecting another rate hike in October
USD/JPY daily chart update:
This article was written by Eamonn Sheridan at www.forexlive.com.
