FXWire Pro Headline | February 15 2013 10:44 EST
Quotes from Barclays Capital:
-The upcoming G20 meeting gives EM policymakers an opportunity to react to this year's main event in FX markets, namely the rapid appreciation in USD/JPY in the broader context of competitive currency devaluations. The G7 statement provided the Group's governments and central banks with the opportunity to frame the yen's recent fall as a by-product of policies that are domestically orientated.
-In other words, the weakness of the yen is being marketed by the G7 as a by-product of policies to induce a Japanese economic recovery, in our view. We think the Japanese government is serious about achieving a higher inflation target and expect USD/JPY to appreciate to 100 in a year's time.