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USD/JPY Trading at 97.15 Result of USD Weakness

Many currency analysts anticipate the yen weakening to around 105 to 110 per U.S. dollar by year-end, but as the final quarter of the year gets into full-swing the chance of the currency hitting those estimates later than forecast are rising.

Japan’s currency firmed to a one-month peak against the greenback this week around 97, up more than 6 percent from the 4-1/2 year low set in May.
The rebound in the yen is a worrying sign for Japan’s policy makers who have been hoping a weak currency would underpin the economic recovery, fuel business sentiment and a rally in Japanese stocks. This in turn is seen encouraging companies to spend or increase wages to help spur spending in the world’s third biggest economy.

via CNBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza