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ING forecasts USD/JPY will fall to 105 within three months. The forecast rests on possible Japanese pension fund buying of foreign bonds, the reversal of dollar funding strains, and yen strength in a recession.
The GPIF portfolio change was expected to be announced March 31.
A weaker dollar against the yen would ease the cost of Japanese purchases of US goods, but the effect on feed commodity prices is small. The forecast is a view on currency markets rather than a supply or demand event.
think.ing.comChris TurnerMar 26, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
