USD/JPY: 120-125 seen as the target for the next couple of months – TDS USDJPY BOJ Banks
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.“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 theInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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