USD/JPY seen around 116.00 in 12-month view – Danske Bank
|Analyst at Danske Bank Mathias Mogensen expects the pair to edge higher towards the 116.00 handle within a year’s view.
Key Quotes
“Market pricing suggests that the general election in Japan on 22 October should not have a significant impact on USD/JPY if Shinzo Abe maintains his majority in the Lower House after the election”.
“However, we still pencil in a higher USD/JPY going forward driven by Fed-Bank of Japan divergence, higher global yields (eventually) and portfolio outflows out of Japan. We target USD/JPY at 116 in 12M”.
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