Expect USD/JPY to stay 112 - 113 this NFP week – J.P Morgan

Bloomberg reports the outlook for the USD/JPY pair outlined by the analysts at J.P Morgan (JPM) for this week, with the key US NFP report in sight.

Key Quotes:

“Expect USD/JPY to stay 112 - 113 this week

Says the market focus is on geopolitics over macro / US rates developments

In particular - concern over a possible missile launch by North Korea and growing tensions in the Middle East (Iran and Jerusalem) and oil price impacts.

JPM is not expecting a strong outcome from U.S. jobs data Friday, but that should not change the Fed's monetary tightening policy.”