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Apr 27 - 12:55 AM

USD/JPY: Trading Around Fair Value; To Move Gradually Towards 107-112 Range In H2 - NAB

By eFXdata  —  Apr 26 - 04:30 PM

NAB Research discusses USD/JPY outlook and adopts a neutral bias in the near-term.

"We continue to see current fair value in USD/JPY around ¥108 with price action on the pair expected to be largely contained in a ¥105 to ¥110 range over coming months. Later in H2-21 USD/JPY should gradually move towards a higher trading of ¥107 - ¥112 with an expected renewed rise in 10y UST yields a key factor for our end of the year forecast of ¥110," NAB notes. 

"After a period of consolidation our rate strategists expect 10y UST yields to end the year at 2.25% amid our expectations of additional improvement in the global macro-economic backdrop," NAB adds. 

Source:
NAB Research/Market Commentary

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