Flash: USD/JPY to be dragged higher? - Westpac

FXstreet.com (Barcelona) - The Westpac Global Strategy Team note that for USD/JPY the signs are increasingly clear that Japan’s sales tax rise will proceed, comforting those worried PM Abe could duck the tough decisions.

Key Quotes

“This should support the Nikkei (as has the Tokyo Olympic win) and help drag USD/JPY higher.”

“Yet US data has not been impressive enough to see sustained gains beyond 100.00 yet. This probably won’t change on the week though we look for dip buyers with a 98 handle.”