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What next for JPY after Japan's dismal data day?

JPY strengthened after the surprise news from Japan that its economy is technically in recession. Saxo Bank's Head of FX Strategy, John Hardy, believes it's a knee-jerk reaction and we could see new yen lows in the coming weeks if markets believe the Bank of Japan will stay accommodative.

It's expected Japan's Prime Minister, Shinzō Abe, will soon call snap elections. John outlines the levels we could see in the coming weeks, including possible new highs in EURJPY. He also looks ahead to what might impact USD this week, notably mintues from the latest FOMC meeting in November.

John J Hardy is head of FX strategy at Saxo Bank. Follow John or comment below to engage with Saxo Bank's social trading platform

02:39 minutes
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