#USDJPY @ 134.614 seems fundamentally overvalued – Danske Bank
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Analysts at Danske Bank see the USD/JPY as overvalued and expected it to drop to 127.00 in a three-month period.
“USD/JPY seems fundamentally overvalued, and together with our base case of monetary policy tightening during summer; we expect the cross to drop to 127 in 3M. In the near-term, however, we could see some topside risks to the cross on the back of a relatively hawkish Fed and a dovish BoJ.”
“A rally in global commodity prices is an upside risk to the USD/JPY, as Japan is a net energy importer. Generally, upward moves in US yields for whatever reason continue to be a tailwind for the USD/JPY.”
[/s2If]
Join Our Telegram Group
