Morgan Stanley entered a long USD/JPY trade in its portfolio at 109.50 with the view that the BOJ’s policy will limit yen gains.
* Would target 118, with stop at 108.20.
* Markets remain skeptical about the Fed hiking rates in June despite strong economic data.
* Implied probability for the Fed hiking rates in Juneф fell to below 60%,
Source: Bloomberg
Junior Trader Stefan Panteleev
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