USD/JPY gains traction for the second straight day and climbs to its highest level since mid-July. Economists at Wells Fargo expect the pair to surge above 140 by early 2023.

BoJ to maintain the easy monetary policy

“Given modest Japanese growth and limited inflation, we expect the Bank of Japan to maintain the easy monetary policy and to continue to cap Japanese bond yields for the foreseeable future.”

 We expect the USD/JPY exchange rate to reach 140.00 or higher by early next year.”