USD/JPY Chinese data flow may underpin the Yen - OCBC

FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that the Chinese data flow may potentially and negatively impact investor sentiment, underpinning the Yen instead.

Key Quotes

“Snap election chatter may persist and sentiment towards the JPY is expected to remain tender in the interim. The pair may continue to eye the 116.00 ceiling while the Chinese data flow may potentially and negatively impact investor sentiment, thereby underpinning the yen instead. The pair we think remains sensitive to broad dollar dynamics and is expected to remain buoyant on dips. “