Wells Fargo: The yen is expected to strengthen in 2024

WendyCS

2024-02-26 07:40:51

Wells Fargo expects that U.S. economic growth will slow, the Federal Reserve will ease monetary policy, and U.S. bond yields will fall, all of which should be positive for the yen. The Central Bank of Japan is gradually moving towards policy normalization and is expected to raise its policy Intrerest rate in April. In fact, with Japan likely to be one of the few countries to buck the trend of global monetary easing this year, Wells Fargo expects the yen to become stronger over time, targeting the USD/JPY Exchange Rate to reach 144.00 by the end of 2024.

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