Reported about 1 year ago
On June 20, 2024, a senior vice president of the Investment and Wealth Management Department of HSBC (Taiwan) Commercial Bank predicted that the USD/JPY would decline in the next 12 months, but the yen turning point may not appear until later this year when the Fed might initiate a rate cut. Since the end of May, the yen has strengthened against some G10 currencies due to several positive factors, including various central banks lowering interest rates. The article also discusses the intervention of the Japanese Ministry of Finance in the forex market and the expectations of the Bank of Japan to raise rates slightly. Despite the yen’s weakness against the US dollar, the prediction remains for a decline in USD/JPY over the next 12 months, pending potential developments such as Fed rate cuts and risks related to the US election.
Source: YAHOO