Last week Bloomberg posted some views looking for USD/JPY to 170.
Sumitomo
says 150 could come if the BoJ intervened, but “in the long term, the yen will continue to weaken toward 170”
Mizuho
- “It’s really tempting fate to say ‘you can’t do 170’,”
- “Is it desirable? No. Is it ruled out as a possibility? Unfortunately not.”
CBA:
- path of least resistance being for more weakness in the yen
Vanguard has now jumped on board with the warning:
- sees the yen at risk of falling toward 170 per US dollar if Bank of Japan policy changes at their meeting on the 30th and 31st of July fail to boost JGB yields
