# Yen to Strengthen 10% in Coming Months on US Rate Cuts, Morgan Stanley Says

> Morgan Stanley strategists say the yen could appreciate nearly 10% against the dollar in coming months if the Fed delivers back-to-back rate cuts. They point to signs of a US economic slowdown.

- Date: 2025-12-01 · published 2025-12-01T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/22190-yen-to-strengthen-10-in-coming-months-on-us-rate-cuts-morgan-stanley-says
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger yen and weaker dollar would lower the yen cost of US feed imports and tend to support dollar-denominated commodity prices. The effect on feed markets depends on whether the Fed cuts as expected.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-02-28 | [Japanese yen may strengthen as dollar weakens: Morgan Stanley and ING](https://feedsoft.ai/events/66740-japanese-yen-may-strengthen-as-dollar-weakens-morgan-stanley-and-ing.md) | -0.1% | -0.5% |
| DXY | 2023-04-14 | [Ringgit continues to strengthen vs US dollar](https://feedsoft.ai/events/36680-ringgit-continues-to-strengthen-vs-us-dollar.md) | +0.6% | +0.5% |
| DXY | 2023-01-16 | [Morgan Stanley cuts year-end dollar forecast \| Reuters](https://feedsoft.ai/events/37974-morgan-stanley-cuts-year-end-dollar-forecast-reuters.md) | -0.0% | +0.7% |
| DXY | 2017-08-30 | [Yuan Appreciation: RMB strengthens when US index continues to fall - CGTN](https://feedsoft.ai/events/69676-yuan-appreciation-rmb-strengthens-when-us-index-continues-to-fall-cgtn.md) | -0.6% | +0.9% |
| DXY | 2023-12-07 | [MIDF Research forecasts ringgit to strengthen in 2024 amid anticipated Federal Reserve rate cuts](https://feedsoft.ai/events/32993-midf-research-forecasts-ringgit-to-strengthen-in-2024-amid-anticipated-federal.md) | +0.5% | -1.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2025-11-25/yen-to-strengthen-10-in-coming-months-on-us-rate-cuts-ms-says

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.