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- USD/JPY may turn lower in the event BoJ surprises on Friday – OCBC
USD/JPY may turn lower in the event BoJ surprises on Friday – OCBC
USD/JPY rebounded sharply last week. Economists at OCBC analyze the pair’s outlook ahead of BoJ meeting.
Risk for USD/JPY is asymmetric going into the MPC
Our house view still expects the BoJ to move away from YCC, NIRP regime at some stage this year as inflationary pressures broaden; growth outlook improves and upward pressure on wage growth remains intact.
In the event BoJ surprises on Friday, then we may see USD/JPY turn lower as markets may be caught wrongfooted.
We believe the risk for USD/JPY is asymmetric going into the MPC.
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