JPY Trading Outlook (15-12-2010)
The Japanese Yen (JPY) tested below Y83 before stronger US Retail Sales helped the pair begin to rally when US bond yields increased after the FOMC. The US and Japan have similar Interest Rates at near 0% so any move higher in US interest rate expectations has a major effect. Overall the USDJPY traded with a low of 82.82 and a high of 83.86 before closing the day around 83.60 in the New York session. UPDATE Q4 Tankan Manufacturing Index at 5 vs. 8 previously.
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