Japan: BOJ move to stem strong JPY is imminent

- "In our view, the Bank of Japan (BoJ) will soon step in and try to stem the recent appreciation of JPY. However, we do not expect direct intervention in the FX market, although this possibility should not be ruled out completely. Instead, we expect the BoJ to step up its quantitative easing."
- "A BoJ move should be able to create a much more solid platform below USD/JPY. However, unless it delivers aggressively, we are unlikely to see JPY weaken significantly until the financial markets regain confidence in global growth."

DenDanske Flash Comment 20100825

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