UBS Global Wealth Management: BoJ cuts chance of JPY rally

9 August 2018 | 1 minute read

According to UBS Global Wealth Management, the recent surprise announcement to keep the 10-year JGB zero-yield target slashed the likelihood of JPY strengthening. The bank maintains its 6-month USDJPY forecast at 107-112. It is also overweight 10-year US Treasuries with no expectation of a sharp rise in global bond yields in the coming six months. “While introducing forward guidance will prevent…

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