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Jun 02 - 06:55 PM

JPY: Peak In USD/JPY May Be Behind Us - MUFG

By eFXdata  —  Jun 02 - 03:00 PM

MUFG Research discusses USD/JPY outlook and targets the pair at 125 in Q3 and at 124 by year-end.

"Global financial conditions remain highly uncertain and therefore we cannot say with complete confidence that the sell-off of the yen has turned but we do see increased evidence that the peak in rates may be topping out," MUFG notes.

"We still expect commodity prices to increase further though which may mean a clear turnaround in yen weakness only materialises later in the year, but a peak in USD/JPY may now be in place," MUFG adds. 

Source:
MUFG Research/Market Commentary

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