Nomura like decrease for yen crosses – notably brief CHF/JPY and GBP/JPY

Nomura on JPY crosses, specifically like short CHF/JPY:

• cite yen positive carry vs. CHF due to Swiss National Bank policy rate lower than the Bank of Japan’s

Also like short GBP/JPY:

• UK will find it difficult to launch a ‘bazooka’ stimulus like Germany has – see no large fiscal stimulus in this week’s Spring Statement

This article was written by Eamonn Sheridan at www.forexlive.com.