Some bearish USD/JPY commentary
The Nikkei Asian Review speaks with some FX strategists about the July 29 Bank of Japan decision and what it means for the yen.
"Even if the bank implements additional easing, the yen is only going to weaken for the first rew few minutes," Daisuke Karakama of Mizuho Bank said.
He added that no matter what the BOJ does, yen crosses will fall.
"The yen will weaken, but probably only by about 1" to the dollar, said Yunosuke Ikeda of Nomura Securities.
They say the risk is that the BOJ underwhelms and then yen crosses crumble.
Nikkei cites a survey saying 60% of forex traders expect more easing the meeting.
