Daiwa sees next BOJ rate hike in December as Ueda signals shift in policy phase
A December hike fits a steady, quarterly pace, which should limit surprises for markets, but Daiwa sees the risks tilted towards earlier moves. That keeps the front end of the JGB curve under upward pressure, with Japan's 10-year yield already at its highest since 1996. The yen i
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Bank of America | Bullish | 149.00 |
Scotiabank | Bullish | 140.00 |
UOB | Bearish | 158.40 |
All 21 desk targets for USD/JPY
Desk synthesis pending
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Cross-firm research
USD/JPY at 158.86: Consensus Targets 152, Dispersion Spans 25.5 Figures
USD/JPY trades 4.51% above the 23-firm Dec-26 consensus of 152.0, with a 25.5-figure dispersion signalling deep disagreement on the BoJ-Fed spread.
USD/JPY Consensus Check: Spot at 157.83, Median Target 152.0 — Week of September 23, 2026
USD/JPY trades 3.83% above the 23-firm median Dec-26 target of 152.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.
USD/JPY Consensus Check: Spot at 157.39, Median Target 152.0 — Week of September 22, 2026
USD/JPY trades 3.55% above the 23-firm median Dec-26 target of 152.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.