The strategists of investment banking giant Goldman Sachs have raised the USD / JPY six-month target from 103.00 to 106.00, citing the risk of a larger-than-expected stimulus that will lift US Treasury yields positively for the USD.
However, the bank anticipates USD / JPY at the 100.00 level in 12 months hereinafter.
The pair is currently trading around the 105.50 level, having touched a low of 102.60 on January 5. The US 10-year yield is at 1.24%, the highest level since March 2020.
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