USD/JPY is near the highest level since 1986 as divergence with the Fed intensifies
FUNDAMENTAL OVERVIEW USD: The US dollar surged across the board on the more hawkish than expected dot plot (the consensus was looking for no cuts or hikes this year). The median dot showed one rate hike this year and some of those hawkish members pencilled in multiple hikes. By p
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | Bearish | 159.60 |
Bank of America | Bullish | 149.00 |
Rabobank | Bullish | 145.00 |
All 22 desk targets for USD/JPY
Desk synthesis pending
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Cross-firm research
USD/JPY Consensus Check: Spot at 158.17, Dec-26 Target 154.0 — Week of October 9, 2026
USD/JPY trades 2.71% above the 24-firm Dec-26 consensus of 154.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.
USD/JPY at 158.32: Consensus Targets 154.0, Dispersion Hits 25.5 Figures
Spot USD/JPY trades 2.81% above the 24-firm Dec-26 consensus of 154.0, with a 25.5-figure dispersion exposing deep disagreement on the BoJ rate path.
USD/JPY Consensus Check: Spot at 158.09, Median Target 154.0 — Week of October 7, 2026
USD/JPY trades 2.65% above the 24-firm Dec-26 median of 154.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed spread path.