USD/JPY to fall progressively toward 124 by year-end – ANZ

FXStreet Insights Team FXStreet

The concerns of financial instability saw an influx of safe haven buying for currencies such as the Japanese Yen. Economists at ANZ Bank expect the USD/JPY pair to move gradually lower toward 124 by the end of the year.

BoJ pivot still a key focus

“In the immediate term a policy shift looks unlikely. Incoming Governor Kazuo Ueda (whose term will start from 9 April), has publicly supported ultra-loose monetary policy even before his nomination.”

“ If a policy shift does materialise, which we anticipate being after Q2 this year, the JPY will rally on more favourable yield differentials.”

“We forecast USD/JPY to fall progressively to 124 by the end of the year.”

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FXStreet Insights Team

FXStreet

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