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USD/JPY appropriate at 105 given purchasing power parity

FXStreet (Mumbai) - Koichi Hamada, adviser to Japanese Prime Minister Abe, speaking on BS Fuji TV said today that the Yen is appropriately valued at 105 per US dollar given the purchasing power parity.

He further added that at the current level of 120.00, the yen is weak. Hamada’s other major comments were - Consumption will rise in Japan as stocks rise, Monetary policy is working well in Japan.

Hamada has been a critic of a weak Yen over the years. In 2013, Hamada had said Yen would be “too weak” at 100 per US dollar.

Spec positioning on oil climbs 43% in past two weeks –

Independent Analyst, Malcolm Graham-Wood, comments that although the CFTC positioning data shows that the long positions on oil has increased 43% in the past two weeks, some caution is warranted as the market is still not away from the bear trend.
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US rate hike likely to shift to Q3 2015 – Nomura

Research Analysts at Nomura, share their view for the US economy, and forecast a rate that the lower trajectory of inflation growth to push the first hike into Q3 this year.
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