- Analytics
- News and Tools
- Market News
- USD: Two hawks down but taper (tantrum) still to come; staying long USD/JPY - Credit Agricole
USD: Two hawks down but taper (tantrum) still to come; staying long USD/JPY - Credit Agricole
eFXdata reports that analysts at Credit Agricole CIB Research offer their USD outlook and maintain a bullish bias and a long USD/JPY exposure in the spot targeting a move towards 115.
"The recent resignations of the two non-voting FOMC members Robert Kaplan and Eric Rosengren should not impact the Fed’s decision to start tapering potentially as soon as November. That said, given that both policymakers were leaning hawkish, their departures could influence the debate at the Fed over the pace and aggressiveness of policy normalisation in the medium term."
"We, therefore, prefer to express any bullish USD view over the medium term via a long position in USD/JPY. In the near term, the growing prospect for Fed taper could boost US rates & UST yields and further weigh on risk sentiment."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
