RBC have moved their end-2023 USD/JPY forecast to 150 from their previous call for 145.
RBC says that the July Bank of Japan meeting will be a disappointment for those expecting a policy adjustment from the Bank. RBC adds, though, that they do expect the BOJ to adjust its YCC program later in 2023.
Earlier re yen and BOJ:
- More on BOJ Dep Gov Uchida and a July ‘tweak’: “We will continue YCC” for the time being
- “Mr. Yen” Sakakibara says USD/JPY could soar beyond 160 before intervention from the BOJ
- Nomura looking for higher USD/JPY in near term, but eyes on the BOJ and intervention risk
USD/JPY update, dribbling a little lower in early Tokyo time:
This article was written by Eamonn Sheridan at www.forexlive.com.
