FXStreet (Edinburgh) – Strategists at Westpac see occasional retracements in USD/JPY as opportunities to go long.
Key Quotes
“The longer term USD uptrend appears to have resumed, earlier than we had assumed, aided and abetted by a notably stronger pulse for some key US data points (durable goods, orders, core CPI and housing starts), stability in bunds and heightened Greek stress”.
“A probably decent US payrolls and a dovish Draghi (Wed) should keep the USD ascendant this week”.
“A deal for Greece ahead of their 5 June EUR300mn IMF payment will likely deliver a pullback in the USD that should be bought. We have shifted our outlook for the month ahead to bullish USD”.
(Market News Provided by FXstreet)