#USDJPY @ 133.386 : Further gains for Yen are likely to take time – Westpac
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Economists at Westpac expect the USD/JPY to move gradually lower and fall to 124 by the end of 2024.
“It seems most appropriate to expect the Yen to, more or less, follow the US Dollar trend over the forecast period given the turn in sentiment against the USD; Japan’s robust growth prospects; and its exposure to the Asian region, where momentum and opportunity are clearly building.”
“USD/JPY is only forecast to ease to 129 by end-2023. However, as rate cuts are delivered in the US and the rate differential narrows, the down-trend is expected to accelerate, with 124 the target for end-2024.”
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