We’ve had May Money Suppy data from Japan. This is not a market mover but FWIW its come in at +1.9% y/y
vs. +2.1% expected and +2.6% in April
The Bank of Japan meet this week and yen traders are on edge over the question of further tightening from the Bank. If we get anhy it’ll likely be a reduction in JGB buying.
Nikkei: Bank of Japan will ‘consider’ whether to scale back its monthly JGB purchases
The US CPI and FOMC are also risk events ahead:
US CPI and FOMC due this week – UBS preview
USD/JPY update:
This article was written by Eamonn Sheridan at www.forexlive.com.
