Snippet from UBS on the BOJ and yen:
- USD/JPY not stabilised yet
- many Japanese companies expect the average USD/JPY exchange rate to be close to 145
- but there is scope for significant swings still
- see 140 to 150 as the new trading range
- say that there is reluctance to build substantial positions in yen crosses right now
- on the Bank of Japan, UBS expecting another rate hike in October
USD/JPY daily chart update:
