Japan’s currency has had a good year so far -- up more than 5 percent against the dollar -- helped in large part by speculation the Bank of Japan will start to roll back the mega-stimulus it unleashed five years ago.
For yen bears, it could be a “crucial two weeks for BOJ watching,” according to Yujiro Goto, a currency strategist at Nomura Holdings Inc. in London, who sees the currency weakening to 110 by the end of September.
The upcoming U.S.-Japan summit, the BOJ’s semiannual Financial System Report and updated central bank economic projections on April 27 could act as catalysts for the exchange rate, according to Goto.
Source: Bloomberg Pro Terminal
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