Sumitomo Mitsui Banking Corp with some cheerful expectations for USDJPY
BOJ may drop inflation target time frame at Sep meeting
May flag external factors like oil and slower global growth as impediments to hitting inflation goal, even while saying the correct policy actions have been taken
BOJ may change QQE range to ¥70-90tn from current ¥80tn
Would be difficult for BOJ to cut rates further into the negative
USDJPY could undo all the Abenomic gains to fall to 85.00
Sumitomo's Daisuke Uno gave an interview yesterday. Following my post from yesterday, I came in today to see that the 100 level survived another close shave but once again, it just can't pull itself away.
