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    USD/JPY: Scope for only a moderate move lower in the coming months – Rabobank

    Source Fxstreet
    Mar 4, 2024 14:27

    Is the Bank of Japan (BoJ) ready to act? Economists at Rabobank analyze Yen’s outlook ahead of the BoJ’s March meeting.

    USD/JPY to edge lower into the BoJ’s March meeting 

    While we favour an April rate hike over a move in March, we expect USD/JPY to edge lower into the March 19 meeting in anticipation of an early move. 

    Even on a steady policy outcome this month, we expect downside pressure on the JPY to be limited as the market turns its attention towards the likelihood of a rate hike next month.

    That said, given the resilience of the US economy and related US inflation risks, we see downside potential in USD/JPY to be limited to a move back to 140.00 on a 12-month view.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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