The Japanese Yen is still the worst-performing G10 currency so far this year. Economists at HSBC analyze USD/JPY outlook.
USD/JPY may hover around the current levels into year-end
We look for USD/JPY to consolidate around the current levels into year-end.
Looking to 2024, we think USD/JPY might not fall until rate cuts by the Fed look imminent, perhaps in the middle of the year.
We expect the Fed to start easing in 3Q24.
We expect the BoJ to scrap Yield Curve Control (YCC) in 1Q24 and step out of Negative Interest Rate Policy (NIRP) in 3Q24.
The anticipated policy contrast between the Fed easing and the BoJ normalising should allow USD/JPY to fall in a more sustainable way. However, considering that the yield gap will likely remain large, we only expect a moderate decline in USD/JPY.
作者：FXStreet Insights Team，文章来源FXStreet，版权归原作者所有，如有侵权请联系本人删除。
风险提示：以上内容仅代表作者或嘉宾的观点，不代表 FOLLOWME 的任何观点及立场，且不代表 FOLLOWME 同意其说法或描述，也不构成任何投资建议。对于访问者根据 FOLLOWME 社区提供的信息所做出的一切行为，除非另有明确的书面承诺文件，否则本社区不承担任何形式的责任。
FOLLOWME 交易社区网址: www.followme.ceo
加载失败()