BOA predicts USD/JPY surge to 160 as BoJ stands helpless ...Middle East

Bank of America is warning that USD/JPY could move to 160 quickly, saying there is little prospect for the Bank of Japan to halt the rise with its communications. The note from BoA was written before the latest upthrust in USD/JPY, through 155.00 during US trade on Wednesday.BoA note that the BoJ has already said that a weaker yen could impact monetary policy via the impact on inflation. This hasn't been enough to support JPY and is likely to be not enough again if this is repeated by the BoJ in its statement coming up. (The BoJ meet on Friday, early preview here) BoA say what would be required from the BoJ to firm up the yen:“it should acknowledge that policy has been too accommodative, tha

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Last updated : 25 April 2024 clock 12:13 AM

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