Neutral
Bank of America revises USD/JPY forecast to 152, citing yen strengthening catalysts.
Bank of America has updated its USD/JPY forecast to 152 from 157, highlighting potential catalysts for yen appreciation. These include a rise in USD/JPY to 160, Japan's 10-year government bond yield approaching 3%, and Brent crude prices falling below $90 per barrel. The bank also notes suspected Japanese FX intervention of up to ¥10 trillion between late April and early May.
Key points
- Bank of America upgrades yen outlook to neutral, lowering USD/JPY forecast to 152.
- Identified catalysts for yen appreciation include USD/JPY reaching 160, 10-year JGB yield near 3%, and Brent crude below $90.
- Suspected Japanese FX intervention of up to ¥10 trillion between late April and early May.
Sources
AI-generated from public news sources. Not financial advice.
