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breaking news Goldman Sachs expects US NFP to buy yen

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  • “In the very near term, we expect more depreciation pressure on the yen (upside pressure on USD/JPY) due to the BOJ’s commitment to YCC. Investors should consider short-term USD/JPY buy spreads for this outcome; the possibility of intervention limits the chances of a strong rise in USD/JPY, in our view; the CHF/JPY cross may also have even more potential, but we are hesitant to chase current levels,” GS notes.
  • ‘Beyond that, we will be looking for opportunities in the USD/JPY shorts. Given the uncertainty surrounding the Fed’s near-term outlook, it may be prudent to wait for the next US jobs report (July 8) before adding bearish expressions to USD/JPY “, adds GS.

Wait until July 8??? These guys …

This article was written by Eamonn Sheridan at


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