MUFG predicts a substantial decrease in the USD/JPY exchange rate over the course of 2024, citing factors including US yield developments, Japan's aggressive inflation policies, and the Bank of Japan's anticipated policy shifts.Key Points:US Yield Developments: US yield trends will play a crucial role in the USD/JPY movement, with falling yields expected in the context of slowing US growth and declining inflation.Japan's Inflation Policies: Japan's persistent efforts to lift inflation closer to the BoJ's 2% target, exemplified by the government’s recent JPY 17 trillion stimulus package, could impact the currency pair. This package includes subsidies and tax measures aimed at boosting demand
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