USD/JPY: First Time Below 110.00 Since Oct 2014 - Westpac

USD/JPY: First Time Below 110.00 Since Oct 2014 - Westpac

6 April 2016, 04:52
Roberto Jacobs
0
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USD/JPY: First Time Below 110.00 Since Oct 2014 - Westpac

Analysts at Westpac explained that the USD/JPY remained heavy amid equity weakness, the yen showing its safe haven status once again.

Key Quotes:

"The pair slipped from 110.50 to a low of 109.95 after Japan PM Abe was quoted in the Wall Street Journal saying “we must definitely avoid competitive devaluation, and I think we should refrain from arbitrary intervention in currency markets.”

This was the first time USD/JPY traded below 110 since Oct 2014 when the BoJ surprised markets with extra easing measures."


(Market News Provided by FXstreet)

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