HSBC on the yen, "weaker for longer" may be needed ...Middle East

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HSBC are not wrong. From a note late last week:“After years and years of losing competitiveness, exporters are at last feeling the lift from exchange rate realignment. And, one might suspect, an even weaker exchange rate, and for longer, may be needed, to turn the lift into an enduring manufacturing renaissance”Says a weaker yen is boosting Japan’s service sector boosting tourismhelping lift inflation expectations“A weaker yen, in other words, is not entirely unwelcome, as long as the decline is orderly. Thus, don’t expect the BOJ to rush into aggressive tightening just because the exchange rate is wobbly”USD/JPY update to begin the week: This article was written by Eamonn S

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Last updated : 06 May 2024 clock 02:12 AM

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HSBC on the yen, "weaker for longer" may be needed ...Middle East

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