ANZ monthly FX outlook USD/Yen and yen cross (forecasts)

In short, ANZ monthly forex outlookOUTLOOK AND STRATEGY

  • The policy had a huge negative impact on the dollar and this is due to the other hand, although the environment in general, suggests that the recovery could be more selective.
  • The monetary policy plays a less important role in the support of the us dollar as other central banks change prejudices, and that the strong global growth and low volatility continue to support cyclical currencies. 
  • We are in favour of being long the USD against low-yielding currencies such as the yen, but think that the environment in general, will put in place a solid floor under the cyclical currencies.
  • We prefer buying JPY crosses on dips.

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