The Bank of Japan, which widened the trading band for 10-year Japanese government bonds (JGBs) on Tuesday, may have inflicted damage on the dollar against the yen, but Goldman Sachs analysts said there was further room for the greenback to rise.
Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustrationfor 10-year Japanese government bonds on Tuesday, may have inflicted damage on the dollar against the yen, but Goldman Sachs analysts said there was further room for the greenback to rise.
In Wednesday's research note, Goldman said the path for the yen depended on whether the BOJ move was a technical adjustment as the central bank had pointed out, or the start of a tighter monetary policy regime.
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