HSBC analysts predict modest strength in the yen; recovery expected this year ...Middle East

HSBC analysts are looking for further 'modest' strength in the yen through 2024.They argue that after the weakness in JPY over the past 3 years it'll show some recovery this year. Says markets have already discounted expected rate increases in Japan, and falls in the US.And add they see:a capitulation of short JPY speculative positions and lifers’ FX hedgingWhichshould be supportive for JPY This article was written by Eamonn Sheridan at www.forexlive.com.

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