Deutsche Securities in Tokyo say USD/JPY is near the bottom of their 110 to 115 range

  • May thus be interest from investors to buy on dips
  • See no change in trend of USD/JPY rising in time
  • Cite Japan-U.S. interest rate differentials widening

On the Bank of Japan:

  • A precondition for higher USD/JPY is continuation of Bank of Japan easy monetary policy
  • Look for confirmation of this at next week's BOJ meeting

110 a key level in the near term given speculation about BOJ policy shift and dollar weakness

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via Bloomberg