Home Forex USD/JPY to fall to 132 in late 2023 and 128 in mid-2024 – Westpac

USD/JPY to fall to 132 in late 2023 and 128 in mid-2024 – Westpac

by SuperiorInvest

The Japanese yen weakened sharply against the US dollar. Economists at Westpac expect the JPY to regain some ground forecast and USD/JPY pair to 132 by the end of next year.

USD/JPY is likely to hold above pre-pandemic levels

“With risk appetite returning and investors looking for growth opportunities around the world, it seems inevitable that we will see a significant reversal of the yen’s recent weakness. Even if major central banks cut their key interest rates from late 2023, USD/JPY is likely to remain above pre-pandemic levels and a wide interest rate/inflation differential will persist.

“We expect USD/JPY to fall to 132 in late 2023 and 128 in mid-2024.”

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