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The yen now stands around 130, a 20-year low versus the US dollar. Economists at Nordea expect the USD/JPY to advance towards the 135 level by year-end.
USD/JPY to move lower during the second half of 2023
“Back in 2002, USD/JPY topped at 135 and we expect USD/JPY to move towards this level by end-2022.”
“At some point, the peak USD bullishness will turn around and we expect USD/JPY to move lower during the second half of next year.”
This article was originally published by Fxstreet.com. Read the original article here.