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TOKYO The yen is destined to strengthen past 100 per dollar for the first time in four years, analysts say, and there is little policymakers can do to stop it.
From J.P. Morgan and Citigroup to MUFG Bank, Tokyo-based strategists see the yen breaking that barrier as early as the next few months.
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A stronger currency would squeeze export-reliant Japan Inc., which is already struggling to deal with the pandemic’s hit to demand. Overseas shipments are suffering their longest stretch of declines on record.
Dec 19 2020, 1:59 AM
December 18 2020, 4:30 AM
December 19 2020, 1:59 AM
(Bloomberg) Wall Street and Japanâs largest banks are starting to see eye to eye on the yenâs outlook, saying its advance could break the barrier of 100 per dollar next year.
(Bloomberg) Wall Street and Japanâs largest banks are starting to see eye to eye on the yenâs outlook, saying its advance could break the barrier of 100 per dollar next year.
JPMorgan Chase & Co., Goldman Sachs Group Inc and BNP Paribas SA are all forecasting that Japanâs currency will hit the century mark for the first time in four years in 2021. Rarer still, domestic giants Mizuho Bank Ltd. and MUFG Bank Ltd. are joining them, with estimates that the yen could even push to 98, a level unseen since 2013.
Dec 18, 2020
Wall Street and Japan’s largest banks are starting to see a similar outlook for the yen, saying its advance could break the barrier of ¥100 to the dollar next year.
JPMorgan Chase & Co., Goldman Sachs Group Inc and BNP Paribas SA are all forecasting that the yen will hit the century mark for the first time in four years in 2021. Rarer still, domestic giants Mizuho Bank Ltd. and MUFG Bank Ltd. are joining them, with estimates that the yen could even push to ¥98, a level unseen since 2013.
The yen at ¥100 to the dollar is a tough call for Japan’s banks, mainly because it’s the point where domestic exporters start losing money. Now the greenback’s weakening trend is closing a traditional gap between local and global perspectives on the yen.
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FOREX-Dollar drops as progress on U.S. stimulus, Brexit deals sour safety bid Reuters 12/17/2020 By Kevin Buckland Pound hits 2 1/2-year high as EU chief says agreement closer Bitcoin rises to all-time high above $22,000 Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E By Kevin Buckland TOKYO, Dec 17 (Reuters) - The dollar set fresh 2-1/2-year lows against major peers including the British pound and euro on Thursday as progress toward agreeing a U.S. stimulus package and a Brexit deal boosted risk appetite at the expense of the safest assets. Congressional negotiators were closing in on a $900 billion COVID-19 aid bill, lawmakers and aides said on Wednesday, with the tone the most positive it s been in months. Across the Atlantic, the European Union s chief executive said a deal with the UK was nearer, although success wasn t guaranteed. As the world gets more optimistic about the outlook for growth in 2021, the dollar has so