USD/JPY to fall to 132 end-2023 and 128 mid-2024 – Westpac

USD/JPY to fall to 132 end-2023 and 128 mid-2024 – Westpac

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Japanese yen has depreciated sharply in opposition to the US greenback. Economists at Westpac anticipate the JPY to regain some floor and forecast the USD/JPY pair at 132 by the top of subsequent yr.

USD/JPY is more likely to maintain above its pre-pandemic ranges

“As danger urge for food returns and traders search for development alternatives internationally, it appears inevitable that we are going to see a cloth retracement of latest yen weak spot. Nonetheless, whilst main central banks lower coverage charges from end-2023, USD/JPY is more likely to maintain above its pre-pandemic ranges with a large rate of interest and inflation differential to persist.” 

“We search for USD/JPY to fall to 132 end-2023 and 128 mid-2024.”

 



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