HSBC argue for further yen recovery vs the USD citing
- heightened U.S. policy uncertainty
- resumption of pessimism toward the U.S. economy
- renewed expectations of Fed easing soon
HSBC are tracking trade developments, noting market sensitivity “to headlines about U.S.-Japan trade talks, especially regarding FX discussions”
HSBC’s modelling indicates 141-149 range for USD/JPY, though analysts do recognise risks for both overshooting and undershooting.
I stuck in lines around 141 and 149, just using eyeballing … it looks like we don’t have to worry about over and undershooting those levels for a while to come yet.
Later this year,
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