Supported By Investor Flow; May Rise Beyond 110 Towards 112 In The Spring - BofA

Bank of America Global Research discusses USD/JPY outlook and flags a scope for a move towards 112 going into the Spring supported mainly by investor flow.

"We have expected USD/JPY to peak out around the spring then decline. The coronavirus risk may delay the USD/JPY peak to the middle of the year, but we maintain our core view of near-term USD/JPY strength in 1Q20 followed by a correction in 2H20 as we expect the Fed to remain on hold," BofA notes. 

"If Japanese trust accounts continue to rebalance into foreign bonds, USD/JPY may rise beyond 110 and toward 112 in the spring, barring a major shock to the global economy from the coronavirus," BofA adds.


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