Canadian Imperial Bank of Commerce: The yen may rebound to the level of 105 against the US dollar against the yen due to higher fiscal expenditure and bond yields;

Bipan Rai, head of North American foreign exchange strategy at the Canadian Imperial Bank of Commerce, said that the yen may rise to 105 to 1 US dollar, driven by Japan's fiscal stimulus measures and higher bond yields. According to CIBC, Japan's fiscal spending announced last month, the Olympics are expected to drive a surge in tourists, and the rise in bond yields are all beneficial to the yen. It is expected that the dollar's gains against the yen will tend to disappear. The tactical targets point to the 105 and 106 levels, the recovery themes of China and other Asian economies, and the first phase of the trade agreement should provide some support for currencies such as the Korean won and Singapore dollar