USD/JPY to reach 136.00 by year-end – ANZ
|Economists at ANZ Bank expect the USD/JPY exchange rate to trade at 136.00 by the end of 2024.
Shifts in anticipation of a Fed rate cut in the first half of 2024 could slightly tilt USD/JPY downward within the range
Current dynamics, including higher US Treasury yields and the Fed's stance against early rate cuts, are expected to keep USD/JPY within a narrow range in the near term. We anticipate limited near-term recovery for the JPY against the USD, with the currency pair expected to remain rangebound between 146 and 148.50.
Market speculation about a potential Fed rate cut in early 2024 could influence USD/JPY, potentially pushing it slightly lower within the established range.
The March and April BoJ policy meetings are anticipated to induce significant volatility in JPY crosses, with the market closely watching for signals on ending negative rates and easing policies.
We project the USD/JPY pair to reach 136.00 by the end of the year.
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. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.