USD/JPY to reach 122 by year-end as recent rally is set to reverse – UBS USDJPY BOJ Banks
BoJ looks set to normalize policy with positive economic data
“While we acknowledge the risk of further near-term upside for the Dollar, we believe the recent movement in“The minutes of the Federal Reserve's last policy meeting showed that the need for more rate hikes has become less certain.”. The strength in the latest set of economic data should keep the Bank of Japan on track to adjust its yield-curve control regime sometime between July and October, in our view.
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