USD/JPY ahead — analyst expects political scandal effect to fade

A few remarks (via Bloomberg)from various place on the yen today ahead of US CPI data due Tuesday (US time … preview here to get the ball rolling if you are interested)Yoshinori Aoki, head of FX and monetary trading at Sumitomo Mitsui Banking in New York … USD/JPY «isn’t expected to fall sharply», Citing:

  • fewer concerns over North Korea, US-triggered trade war, potentially faster pace of Fed U.S. rate hikes
  • Japan’s political issue is expected to fade with time

Naoto Ono, currency analyst at Ueda Harlow in Tokyo

  •  «The market is returning to fundamentals and investors are looking for a fresh catalyst while trading in narrow ranges, with focus on whether U.S. inflation data would change the pace of rate hikes»

(ps. There are plenty of contrasting views about, looking for sustained rise in yen … back with more on this a little later)
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