Yen May Strengthen Against USD Later This Year -- Market Talk

Dow Jones06-14

0258 GMT - JPY remains stubbornly weak against USD despite strengthening against some currencies, HSBC Global Research says in a note. Positive developments for JPY in May and early June include rate cuts by more G-10 central banks in contrast with the higher policy rate and longer-end bond yields rising in Japan, HSBC says. USD/JPY has diverged from its primary historical driver--the U.S.-Japan rate differential, say Joey Chew and Paul Mackel. However, "we still think USD-JPY will end up lower in the next 12 months, but we smooth our forecast trajectory such that the tipping point occurs later this year" when the Fed is expected to cut rates and market focus shifts to risks around the U.S. election, HSBC says. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

June 13, 2024 22:58 ET (02:58 GMT)

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However, \"we still think USD-JPY will end up lower in the next 12 months, but we smooth our forecast trajectory such that the tipping point occurs later this year\" when the Fed is expected to cut rates and market focus shifts to risks around the U.S. election, HSBC says. 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Positive developments for JPY in May and early June include rate ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1572","symbol_name":"香港银行股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2443337695","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2443337695","pubTimestamp":1718333880,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0258 GMT - JPY remains stubbornly weak against USD despite strengthening against some currencies, HSBC Global Research says in a note. Positive developments for JPY in May and early June include rate cuts by more G-10 central banks in contrast with the higher policy rate and longer-end bond yields rising in Japan, HSBC says. USD/JPY has diverged from its primary historical driver--the U.S.-Japan rate differential, say Joey Chew and Paul Mackel. However, \"we still think USD-JPY will end up lower in the next 12 months, but we smooth our forecast trajectory such that the tipping point occurs later this year\" when the Fed is expected to cut rates and market focus shifts to risks around the U.S. election, HSBC says. 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