A Goldman Sachs ICYMI on USD/JPY, this via eFX.
For bank trade ideas, discover eFX Plus.
- “We are revising our 3-month forecast up to 123 (vs. 117 previously) to reflect continued weakness around current levels, with possible further USD/JPY upside in the very near term,”
“On a longer horizon, we still believe USD/JPY upside is limited as we get closer to historical
intervention thresholds. Additionally, the yen’s deep undervaluation and typical use as a recession hedge could make it an increasingly attractive buy for longer-term investors. Combined with our broad views on the dollar, we still see reasons to
forecasts an appreciation of the yen in the medium term with USD/JPY at 120 in 6 months and 118 in 12 months”,
I posted GS’s USD/JPY forecast revision earlier in the week.