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Forex Flash: USD/JPY conservative target at 110 by year end – RBS
With it's biggest single day rally in USD/JPY pair since year 2008, last at fresh 3.5-year highs 97.10, “I anticipate that JPY will continue to weaken against all currencies on a trend basis,” says Greg Gibbs, FX Trading Strategist at RBS, who is “now thinking 110 by year end is a conservative target,” the analyst suggests.
“The clear message is that the JGB market is not for you,” Greg notes, adding: “it is for the BoJ, you should shift your savings to other asset classes. You should seek inflation hedges, you should seek higher yielding assets abroad,” he concludes.