USD/JPY to advance nicely as BoJ stands alone in the dovish camp – Citibank USDJPY EURJPY BOJ Japan Banks
Japanese political considerations to place limits on the extent of yen weaknessto review its policy parameters anytime soon and not until after Governor Kuroda’s term in the BoJ expires in April 2023. This should retain yen’s bias to weaken against both USD and EUR.”
“PM Kishida is known to be less keen on a weaker yen than his predecessors. And given the rising price of imported crude, the new PM may begin to sense some need for correcting JPY’s depreciation as one way to shore up longer-term support for his administration. But this would probably argue more for a limit to the extent of yen weakness than an outrightly stronger JPY.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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