#USDJPY @ 133.345 to plummet toward 120 by year-end on a US recession – ING
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USD/JPY still trades above 130. Nevertheless, economists at ING forecast the pair at 120 by the end of the year.
“FX markets currently price a 30% chance that the USD/JPY pair trades at 120 at, or even before, the end of the year.”
“120 is our year-end forecast and is premised on the United States going into recession and the Federal Reserve cutting rates by 100 basis points later this year.”
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