Yen could be stronger in the short term - TDS

Research Team at TDS, notes that the Etsuro Honda, Japan PM’s economic advisor said today that this week’s meeting is the time for the Bank of Japan to act if it wants to be pre-emptive.

Key Quotes

“93% of economists polled by Bloomberg expect further easing by the end of July. Other news, but not completely new was the GPIF stating it would hedge FX exposure. Japanese exporters are also reported to be hedging fx exposures as well. Both these news items suggest the Yen could be stronger in the short term.”