4 Global Market Updates- 25 October, 2022

 

In this article, we have covered the highlights of global market news about the USD/JPY, USD/CNH, GBP/USD and USD/CAD.

USD/JPY could hit 153 by Q1 2023, according to Wells Fargo

According to Wells Fargo economists, the Bank of Japan’s FX intervention is unlikely to stop the yen decline, who also predict a weaker yen that will push the USD/JPY to 153.

We don’t expect the supportive Bank of Japan monetary policy to shift very soon because of Japan’s sluggish growth and inflation.

The USD/JPY exchange rate is predicted to hit 153.00 by Q1-2023. “We think FX intervention by Japanese authorities will have little impact in preventing additional yen depreciation,” the report said.

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