USD/JPY: Hawkish Fed likely to limit scope for Yen appreciation – Rabobank USDJPY BOJ Fed Banks
on reports that Kazuo Ueda will be the next BoJ Governor. But economists at Rabobank stick to their USD/JPY forecast.“Given what is known so far, a Bank of Japan with Ueda at the helm has not altered our view of BoJ policies. We continue to expect a very cautious outlook to prevail with conditions building for a modest withdrawal of accommodation this year. We expect this would commence with an adjustment to YCC.
“Bearing in mind that other central banks are already edging towards peak interest rates and could be cutting rates in 2024, there may only be a limited time-frame for the“Assuming some relaxation in YCC, we see scope for a move to USD/JPY 128 on a three-month view. However, a hawkishInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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