Reported 8 months ago
HSBC Bank hosted the '2024 Second Half Investment Outlook' event where Chief Investment Strategist for Asia of Private Banking and Wealth Management, Van Law, forecasted a modest interest rate hike by the Bank of Japan in the third quarter leading to a potential strengthening of the Japanese Yen to 152 Yen against the US Dollar by the end of the year. Despite Gold prices nearing $2343, the bank remains neutral, estimating a drop below $2100 in the second half. Additionally, the bank forecasts a 1% interest rate cut by the Federal Reserve in September, supporting the US Dollar.
Source: YAHOO