The yen bulls have been basically in hiding lately, but Macquarie Group is an exception. Macquarie's forex and interest rate strategist Gareth Berry in Singapore said the yen could strengthen to around $1 to 120 yen in 18 months or longer - meaning a 33% surge from current levels. This expectation will depend largely on the Federal Reserve cutting interest rates significantly in the event of a huge panic in the US economy. "If the shock is global, it could prompt a significant rate cut by the Fed," Berry said in an interview. "Once the Fed begins to cut rates significantly, the USD/JPY will collapse."
麦格理与日元空头唱反调 预计日元有望升至120
Morgan Stanley is taking a contrarian view on the yen and expects it to rise to 120.
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