USD/JPY: Forecast at 147.00 in a three-month perspective – Rabobank – by MSalordFX AUDUSD Currencies Majors
“Another lurch higher in USD/JPY in the coming weeks may trigger some renewed verbal intervention from the MoF, but eventually that would have to be followed by more action – a decision which wouldn’t be taken lightly.”
“In view of the fact that Japan has suffered minimal wage inflation for decades, it may be optimistic to hope that Japan could be on the cusp of a structural move away from deflationary pressures. This, however, is the aim of policymakers. Signs that the spring wage talks bring higher wages could end policies such as yield curve control on the BoJ’s terms. Failing this only a weaker USD is likely to change the dynamic for USD/JPY.
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