USD/JPY to move back to 135 on a six-month view as BoJ makes a step towards altering YCC – Rabobank
|Economists at Rabobank discuss USD/JPY outlook.
USD to remain firm this year
Given the risks that the US could be in recession by year-end, that the Eurozone could be stagnating in H2 and in view of the disappointing pace of China’s recovery, the window of opportunity for a policy change by the BoJ is likely to be very small and potentially non-existent.
We expect the USD to remain firm this year. Our forecast of a move back to USD/JPY 135.00 on a six-month view assumes the BoJ have made a step towards altering YCC.
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