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- USD/JPY: 120-125 seen as the target for the next couple of months – TDS
USD/JPY: 120-125 seen as the target for the next couple of months – TDS
USD/JPY lost more than 100 pips on Wednesday and broke below 129.00. Economists at TD Securities expect the pair to target 120-125 in the next two months.
More change to YCC by the April meeting
“We expect more change to YCC by the April meeting under a new Governor, which is expected to be named next week.”
“What is clear is that Japanese investors will not be able to invest in foreign bond markets on a hedged basis as they have in the past. The cost in doing so is far too punitive. So BOJ policy, alongside with evidence of percolating inflation, will require a change in course, and one that will imply more ownership of JGBs by Japan investors instead of the BoJ.”
“We continue to see 120-125 as a target in USD/JPY in the next couple of months.”
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