FXStreet (Barcelona) – The Research Team at Nomura, position for USD/JPY upside into the September FOMC meeting using options, expecting the pair to break above 125.86.
Key Quotes
“We are adding fresh USD/JPY long exposures via 3m call spread (125.50- 128.00), which cost 0.46% at a spot reference of 123.17, with a max payout of 1.95%. We commit $100K to the position, in our model $100mn portfolio. Ahead of the September FOMC, we expect USD/JPY to break the recent high (125.86), and are recommending to position for that.”
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