Sell the yen on dovish BOJ expectations - Credit Agricole

Buy USD/JPY dips

From Credit Agricole:

We expect any JPY upside from the current levels to prove

unsustainable. This is regardless of the latest data indicating

improving conditions. It must be noted, too, that the latest economic stimulus

package had only limited market impact and that may be taken as a signal of

being in the need to consider a more aggressive monetary policy stance if

needed.

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