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Sep 05 - 01:24 PM
USD/JPY: Set To Rise Gradually Thru Q4 Before Peaking; Where To Target - BofAML
First appeared on eFXplus on Sep 05 - 11:16 AM

Bank of America Merrill Lynch discusses USD/JPY outlook and expects the pair to rise gradually through Q4 before peaking by yea-end.

"We cut our September point forecast to 114 but still think USD/JPY has not peaked out yet partly supported by domestic flow (We expect the BoJ to stay on hold until 2020, diverging from other central banks that are on course for policy normalization.

We expect USD/JPY to rise to above 115 in 4Q18 before peaking but unpredictable trade war scenarios will likely drive the currency into the autumn BofAML projects. 

BofAML now expects USD/JPY to end Q3 around 114 and to end the year around 112. 

Source:
BofA Merrill Lynch Research/Market Commentary

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