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Japan Q1 GDP: More Upside for the USD/JPY?
It seems like the BOJ just can’t get a break. he yen continues to weaken as carry traders don’t believe the central bank has the determination to effectively knock it down, impacting the USD/JPY exchange rate. And then the data releases are aligning to support a narrative of a weaker yen. Tomorrow’s release of Japanese Q1 data is likely to be pivotal for performance of the yen. And the consensus among analysts is that it will fit into the narrative of the BOJ having its hands tied and won’t be able to raise rates. This is a particularly acute problem as investors are coming around to see inflation in the ... (full story)