Nikkei reports 12.10.2018
Japan’s central bank appears likely to lift its fiscal 2018 growth forecast at the policy board meeting set for Jan. 22-23, reflecting rising exports and solid domestic demand including capital investment.
As reported by the Nikkei
This is putting a bid under the JPY late in the day
USDJPY back down to 111.20 from 111.40, EURJPY off the 135.30S highs to 135.05
What was supposed to be a total non-event meeting first of the year on Jan22-23, suddenly sees the level of interest bumped up after their JGB move earlier in the week and the probable growth upgrade.
I repeat , it’s a probably “growth” upgrade , not an “inflation” one . I’m happily short usdjpy but won’t add to the base position barring a bit of jobbing around at this stage as long as the 110.80-111.00 zone holds. Good thing for the shorts today was the rebound holding under the first resistance zone 111.70-80