Tomorrow, all eyes will be on the outcome of the OPEC meeting. Expectations are low after Saudi Arabia suggested that output curbs aren’t essential.
An agreement should support risk appetite promoting an immediate USDJPY break higher.
Should there be no oil production cut agreed then USDJPY may fall back to 111.35 – last week’s break out.
Copyright © 2016 Morgan Stanley, eFXnewsOriginal Article
