USDJPY is likely most affected if US rates have indeed peaked – JP Morgan – by anilpanchal7 USDJPY Banks RiskAppetite Currencies
The durability of a broad USD sell-off is fragile with macro uncertainty near 5-decade highs and the dollar yielding more than half of global FX.USD performance around the last four Fed pauses was not consistent and growth-dependent; more consistent was the decline in US rates regardless of the growth outcome.
The mix of growth/ inflation surprises matters for composition of USD moves. Such high odds of a US recession keeps us more cautious on high beta FX but USD/JPY is likely most affected if US rates have indeed peaked.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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