USD/JPY could rise a little further if the BoJ stays on hold – Commerzbank

Market news

19 January 2024

USD/JPY could rise a little further if the BoJ stays on hold – Commerzbank

The Japanese Yen (JPY) has lost considerable ground against the US Dollar (USD) since the beginning of the year. Economists at Commerzbank analyze USD/JPY outlook.

Scepticism about Japanese monetary policy has weighed on the Yen

USD/JPY has staged a move higher this month. Even if the stronger Dollar may have been partly responsible, scepticism about Japanese monetary policy is also likely to have played a role.

If the BoJ makes it clear next week that it does not intend to change its expansionary course for the time being – which we believe is likely – USD/JPY could rise a little further.

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