BofA: Excess JPY supply this summer to drive USD/JPY toward 163 ...Middle East

Bank of America anticipates that an imbalance in the demand and supply of the Japanese yen (JPY) this summer will contribute to USD/JPY reaching 163 by September 2024. Various factors, including increased investments in foreign equities, trade balance struggles, and political risks, are expected to exert downward pressure on the yen.Key Points:Imbalance in JPY Demand/Supply:Demand/Supply Imbalance: The supply of JPY is expected to outstrip demand, contributing to the yen's underperformance relative to the US-Japan interest rate spread.Toshin Inflows: Inflows to foreign equity Toshin (Japanese investment trusts) are accelerating, driven by new investors utilizing NISA (Nippon Individual Savin

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BofA: Excess JPY supply this summer to drive USD/JPY toward 163 ...Middle East

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