USD/JPY TO DECLINE TOWARD 141.00 BY THE END OF THE YEAR – WELLS FARGO
Economists at Wells Fargo expect a stronger Japanese Yen (JPY) versus the US Dollar (USD) through 2024.
Japanese Yen to be an outperformer this year
The Yen has been on the defensive early this year as soft Japanese data keep the Bank of Japan on hold and US economic trends show some resilience. That said, we still expect US growth to slow, the Fed to ease monetary policy, and US bond yields to fall, which should all support Japan's currency.
We also view the BoJ as moving steadily and gradually toward policy normalization, forecasting a policy rate increase in April. Indeed, with Japan likely one of the few countries to go against the global monetary easing trend this year, we expect the Yen to perform more strongly as the year progresses, targeting a USD/JPY exchange rate of 141.00 by the end of 2024.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.