The Japanese yen has continued its relentless fall. Economists at Nordea believe that the USD/JPY could soar as high as 160.

BoJ’s rate policy will keep JPY weak

“With a continued worsening of rate differentials, we see USD/JPY trading as high as 160 at times, even with the intervention from the Japanese government.”

“What will stop the weakening of the JPY is a shift in monetary policy from the Bank of Japan or a 180-degree shift from all other G10 central banks. The shift from the BoJ could easily come when the current BoJ Governor Kuroda retires in April 2023.”