The USD/JPY pair has risen above the 120.00 level today. Fed’s aggressive fight against inflation could send USD/JPY to 125.00according to economists at ING.
The hunt for the Fed’s terminal rate continues
“The aggressive comments yesterday from Fed Chairman Jerome Powell, have given another boost to US rate markets. Much speculation is expected on whether a flat or inverted US yield curve means recession, and certainly, this energy shock has increased the chances of a US recession at the end of 2023/24“.
“A sharp deterioration in trade position by fossil fuel prices and a still dovish central bank leaves the door open for USD/JPY to rise to 125.00 In the next weeks.”
Source: Fx Street
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