Forex Flash: USD/JPY year-end target at 95.00 – Scotiabank

The Japanese yen is gathering some traction now, hovering over the mid 93.00s ahead of the FOMC minutes. According to Camilla Sutton, Chief Currency Strategist at Scotiabank, PM S.Abe would announce the new BoJ governor at the end of the month and the yen is likely to stabilize ahead of this event.

“We expect further USDJPY upside, with a potential run up to 100; however there are significant factors that limit a sustained rise, including the cost burden of energy imports. We hold a year-end USDJPY target of 95.00”, concludes Sutton.