USD/JPY set to test the 120 level into year-end – CIBC

Market news

2 March 2023

USD/JPY set to test the 120 level into year-end – CIBC

Policy normalization and higher JGB yields leave bias for USD/JPY to test towards 120 into year-end, economists at CIBC Capital Markets report.

BoJ policy normalization to boost JPY valuations ahead

“While Kuroda was intimately associated with Abenomics we would not expect Ueda to be so tainted. Consequently, we would anticipate policy normalization should macro conditions warrant it.”

“Q2 2023: 125 | Q3 2023: 1.23 (USD/JPY)”

“Policy normalization and higher JGB yields, easing spreads versus UST, leave bias towards USD/JPY testing towards 120 into year-end.”

Currencies. Daily history for Thursday, March 2, 2023

Commodities. Daily history for Wednesday, March 1, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.