Societe Generale Cross Asset Strategy Research discuss USD/JPY outlook and notes that the pair's relationship with real yields remains extremely strong.
"111-114 is too tight a range to be sustained for long but could last into the new year," SocGen notes.
On USD/CAD, SocGen comments on selecting shorts among its top trade for 2018 (see here)
"Clients tell us we’re early on this trade and, in the last week, strong Canadian jobs encouraged us, but this week’s Bank of Canada policy statement was insufficiently upbeat given the CAD’s rally, and the USD/CAD is back where it started," SocGen adds.
Source: Societe Generale Cross Asset ResearchOriginal Article
