The Yen is the one major currency that is likely to rise significantly against the USD this year – SocGen

Market news

15 March 2024

The Yen is the one major currency that is likely to rise significantly against the USD this year – SocGen

The US Dollar (USD) has run out of momentum due to more mixed economic data. Economists at Société Générale analyze the forex market outlook.

Sterling is clearly vulnerable

USD/JPY is likely to fall as the BoJ exits negative rates and yield curve control. A symbolic move still matters if it suggests that higher rates will be seen eventually. The Yen is too cheap.

EUR/USD may be stuck, but GBP/USD could fall as the UK continues to stagnate and the Bank of England finally cuts rates.

NZD/USD weakens to 0.6100 as easing Fed rate hopes improve safe-haven bid

US UoM Consumer Confidence Index declines to 76.5 in March vs. 76.9 expected

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