Analysts at Rabobank share their outlook for USD/JPY ahead of the Bank of Japan's (BoJ) policy meeting later in the week.
Analysts at Rabobank share their outlook for USD/JPY ahead of the Bank of Japan's policy meeting later in the week. Market will watch out for signs of any change in BoJ’s bond buying programme It is our house view that the Fed is likely to kick off its rate cutting cycle in September. If US economic data support this view, the USD could start to edge lower in the summer which would likely allow the JPY to find some purchase against the USD.
An upward revision to the BoJ’s CPI inflation forecast at this week’s policy meeting may afford a little protection to the JPY, though this would have more impact if policy-makers assess that domestically driven price pressures have risen. In addition to its policy rates, the market will also be watching out for signs of any change in the BoJ’s bond buying programme.
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