Forex Flash: USDJPY a buy on dips - UBS

UBS remains bullish on the USDJPY, suggesting a buy on dips in a 95-100 range now ahead of the first board meeting under the new leadership on April 3-4. The bank expects that if the new leadership is approved by the Diet this week, as widely expected, "it will be far more aggressive in its quantitative easing" they say.

Mar 11, 2013

Chinese data disappoints; inflation above expectations

Chinese data over the weekend was poorer-than-expected overall. Inflation in China for February increased to 1.1% vs 0.8% expected (MoM) , while the yearly rise in prices stood at 3.2% in February vs 3.0% expected.

Forex: USD/JPY above 96 on Tsunami's 2nd anniversary day

USD/JPY is currently at fresh session highs 96.24, +0.24% higher from previous weekly close, and a +1.40% from previous Asia-Pacific open, following much better than expected US NFP figure, the best in last 12 months. The pair printed fresh 3.5-year highs at 96.60 at the moment data was out, highest since Aug 2009, while Nikkei closed Friday in Tokyo up +2.64% shy of the 11300 points mark, highest since Sept 2008.