USD/JPY: Yen can become a significant outperformer during the global easing phase – Wells Fargo USDJPY BOJ Growth Banks
Against a backdrop of aggressive global monetary tightening, the Yen has underperformed so far in 2023. However, our expectation for the Bank of Japan to adjust its policy settings in Q4-2023 to further normalize the government bond market leads us to believe the Japanese currency has scope to outperform later this year.
Yen strength should also be supported by the end of global central bank tightening cycles and a transition toward global easing, as well as a US recession in the second half of 2023.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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