Goldman Sachs provides an analysis of the Japanese yen, suggesting that its recent strength may be nearing its limits. The firm recommends against pursuing further outperformance of the JPY, based on forecasts and market dynamics.Key Points:JPY Outperformance Caution: Goldman Sachs expresses caution about chasing any further outperformance of the JPY, aligning with their economists' more dovish forecast for the Bank of Japan (BoJ) compared to market expectations.December BoJ Meeting as a Marker: The upcoming December meeting of the BoJ is seen as an important indicator for assessing the central bank's policy trajectory.Limit to USD/JPY Downside: There is a perceived limit to the downside of
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