USD/JPY to climb towards the 149 level by Q1 2023 – Wells Fargo USDJPY Banks BOJ Fed
“The increasing divergence in monetary policy between a hawkish Federal Reserve and dovish Bank of Japan means we believe the yen still has room to weaken against the US dollar in the medium term, even if the Ministry of Finance intervenes in FX markets again to support the currency.”
“We believe that as yields continue to diverge, the yen can weaken toward a USD/JPY exchange rate of 149.00 by Q1-2023, before recovering somewhat as next year progresses.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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