# ICYMI - Goldman Sachs has raised its target for USD/JPY citing stimulus, real yields

> Goldman Sachs raised its six-month USD/JPY target from 103 to 106, citing the larger-than-expected US stimulus bill and the risk of higher real yields. The bank's 12-month forecast was lowered to 100 on reduced unhedged investment in US assets and less carry-related selling.

- Date: 2021-02-16 · published 2021-02-16T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/48875-icymi-goldman-sachs-has-raised-its-target-for-usd-jpy-citing-stimulus-real
- 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 dollar against the yen is a macro factor that can modestly affect dollar-denominated commodity prices and Japanese buying power for US feed ingredients.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-15 | [Is the US Dollar Too Strong? \| Goldman Sachs](https://feedsoft.ai/events/39759-is-the-us-dollar-too-strong-goldman-sachs.md) | +1.0% | +2.6% |
| DXY | 2024-06-06 | [Why the US dollar is likely to stay ‘stronger for longer’ \| Goldman Sachs](https://feedsoft.ai/events/8480-why-the-us-dollar-is-likely-to-stay-stronger-for-longer-goldman-sachs.md) | +1.1% | +0.8% |
| DXY | 2021-11-22 | [EUR/USD Forecasts Downgraded On Euro-Zone Covid Stresses: Goldman Sachs](https://feedsoft.ai/events/44250-eur-usd-forecasts-downgraded-on-euro-zone-covid-stresses-goldman-sachs.md) | +1.2% | +0.7% |
| DXY | 2021-06-28 | [USD/JPY remains strong above 110.80 amid higher US Treasury yields — Octa](https://feedsoft.ai/events/46841-usd-jpy-remains-strong-above-110-80-amid-higher-us-treasury-yields-octa.md) | +0.5% | +1.1% |
| DXY | 2020-11-27 | [USD/JPY: Yield spreads favor yen appreciation - CIBC - Forex Crunch](https://feedsoft.ai/events/50381-usd-jpy-yield-spreads-favor-yen-appreciation-cibc-forex-crunch.md) | -1.2% | -1.5% |

## Sources

- investinglive.com: https://investinglive.com/news/!/goldman-sachs-has-raised-its-target-for-usdjpy-citing-stimulus-real-yields-20210216

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