The January US Consumer Price Index (CPI) data released yesterday was the highlight of the week. Credit Suisse economists continue on the path they have followed this year following the inflation figures.
USD/JPY will slowly move towards 125.00 instead of crashing
“USD strength not particularly impressive. The constructive risk environment, muted interest rate spreads and bleak changes in the terms of trade are likely factors behind the USD’s lackluster bullish momentum.”
“This leads to continue on the path we have followed this year, which in effect consists of trading within the EUR/USD range, with the objective of buying dips below 1.0600 and targeting 1.0950looking for USD/JPY slowly moves towards 125.00 instead of rapidly plummeting towards that level, selecting specific currencies like AUD that they have some reason to outperform, while also sticking to long-term carry plays like the MXN.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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