USDJPY: Dollar easing might continue, a case of incredibly good luck for the MOF – Commerzbank USDJPY Japan Banks
JPY eased in line with the entire USD index. Thus, the MOF has been incredibly lucky, economists at Commerzbank report.“USDJPY eased because of USD weakness not because of JPY strength. This trend might well continue. So far, I had only expected to see USD weakness from Q1/2023. At present, it looks more as if it was going to take hold now. In that case, the MOF would have been incredibly lucky.”
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