USDJPY @ 134.514 – to remain around the 140 level through year-end – Scotiabank
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Despite the JPY’s rebound against the USD since mid-July, analysts at Scotiabank see little reason for optimism on the near-term outlook. They forecast the USD/JPY at 140 by the end of the year.
“Wide US-Japan yield differentials will keep the JPY soft for the foreseeable future while high commodity prices represent another, negative impulse on the currency (via a negative terms of trade shock).”
“We expect USD/JPY to remain around the 140 level through year-end.”
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