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<FX> UBS Expects USD/JPY to Reach 175 by Year-end
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Bloomberg reported that UBS strategists including Shahab Jalinoos said in a report that the yen's decline is expected to continue, with USD/JPY rising to 175 by year-end. The report noted that if oil prices climb to USD150 per barrel and Japan attempts to curb inflation through foreign exchange intervention, the market may gain opportunities to sell the yen at higher levels. The cost would be a drawdown of foreign exchange reserves, yet such actions may not necessarily alter the exchange rate trend. The report also stated that Japan may rely more on fiscal measures such as energy subsidies to contain inflation. As a result, the market may conclude that Japan has little intention of halting yen depreciation amid global stagflation pressures. The ensuing deterioration in terms of trade would drive USD/JPY significantly higher. (fc/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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