Goldman Sachs raises dollar-yen forecast, predicts yen weakness will persist through 2027 - Crypto Briefing
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Goldman Sachs raises dollar-yen forecast, predicts yen weakness will persist through 2027 Crypto Briefing
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4 itemsGoldman Sachs forecasts yen to weaken to 165 per dollar in a year, signaling trouble for risk assets - Crypto Briefing
Goldman Sachs Turns More Bearish on Yen, Sees 165 Per Dollar - BeInCrypto
Goldman cuts yen forecast to 165, among most bearish on Wall Street
Goldman Sachs' fresh forecast of a weaker yen, with a revised target of 165 for USD/JPY by June 2024, highlights market sentiment swinging firmly toward further depreciation of the currency. As noted in their report, market-implied probabilities now estimate a 72% chance for this level, emphasizing that trader positioning has aligned with forecaster expectations for the yen's continued weakness. There exists a significant divergence from fair value models, indicating persistent pressures driven by US-Japan rate differentials and Japan's fiscal challenges. Coupled with high hedge fund short positions, this setup suggests a potential one-way market dynamic unless there are drastic shifts in monetary policy from either the Federal Reserve or the Bank of Japan [source].
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