The median 1Q25 USD/JPY projection sees the exchange rate trading at 150.0 with forecasts delivered as recent as today. Dollar-yen was seen at 155.0 in 2Q24, however, it missed estimates as it finished the quarter higher at 161.0
Nomura's view was revised yesterday, the desk sees the dollar-yen rate dipping into 146 by the end of the first quarter in 2025. Their calculation includes further BoJ tightening while the Fed cuts rates
It has been a massive start of the month as USD/JPY drops from 150.0 to 141.7, that's almost 10bfs in less than a week of trading. It will be interesting how analysts incorporate upcoming developments to their forecasts
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