'Pick a number': Strategist says the U.S. dollar will drift much lower against the Japanese yen
Publishing timestamp: 2024-08-21 08:06:10
Summary
BNY's senior EMEA market strategist expects U.S. dollar weakness to persist against major currencies through the end of the year, particularly against the Japanese yen. The yen has been rising sharply, indicating an unwinding in carry trades. The strategist also predicts the dollar may tick higher against the Chinese yuan due to monetary policy easing by the PBOC. Carry trades have been unraveling, but the strategist believes the process is not yet complete.
Sentiment: NEUTRAL
Tickers: JPY=,
Keywords: world markets, currency markets, japan, business news, usd/jpy, japanese yen, markets, u.s. dollar,