EUR/JPY should fall on overly optimistic economic expectations – ING

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The ING economists expect EUR/JPY to declineas the good year for the US economy could be too good to be true.

Coverage in case the optimistic scenario fails

“Listening to the Fed Chairman’s press conference on February 1, it almost seemed like 2023 could be an upbeat year for the US economy. Inflation could come down even as unemployment remains low. If that’s too good to be true, then EUR/JPY should go down.”

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“It is also the case that the ECB’s new hawkish attitude in December, and marketed with mixed success in February, falls by the wayside. This is not our view, which sees the ECB raising 75 basis points more (deposit rate at 3.25%) and rates unchanged until the fourth quarter of 2024“.

“The Japanese yen also has the advantage of stronger Asian regional growth.”


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Source: Fx Street

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