Flash: JPY led by Gov commentary - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the continuing stream of comments from Japanese Economics Minister Amari may continue to buffet the yen in the near term with the minister noting that exchange rates should strike a balance between the impact on imports and exports.

Elsewhere, Ng sees that the Japanese government also raised its assessment of the Japanese economy although he notes that the weight of the market remains positioned for implicit yen weakness. In the interim, he adds that dips towards the 101.30 area may find implicit support barring a broad shift out of bearish yen expectations while 103.30 may present a near term cap.