JPY Trading Outlook (10-08-2012)

The Japanese Yen (JPY) the USD/JPY is staying very close to Y78.50 but this is still stronger than usual with the case for going long on the USD/JPY assisting US yields. The Outlook is still very mixed however and US monetary policy as well as EUR/JPY will have a big impact. The BOJ held at 0.1% and did not offer any new stimulus. Overnight we did hear a warning from Fitch that Japan may lose its AAA rating if it does not do more to cut its Debt.

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