High Hopes for Yen Rally This Year Give Way to Talk of Slim Gain
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Strategists have slashed estimates for yen strength this year. Expectations for the yen to outperform its peers this year have all but evaporated, with strategists now forecasting the currency to end 2024 within a few percent of where it started. Gains in the yen seen this month as the prepares to end negative interest rates come after a 6% slump versus the dollar in January-February. Investors are excited by the prospect of a shift in Japan’s rate policy as soon as next week, but wary of the strength in the US economy and the likelihood that the yield gap between the two countries will remain wide.

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https://www.bloomberg.com/news/articles/2024-03-14/high-hopes-for-yen-rally-this-year-give-way-to-talk-of-slim-gain