Top yen forecaster: The yen will fall to its lowest level against the dollar since 1986

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The agency with the most accurate forecast for the yen said that although Japanese authorities may work to curb the decline of the currency, the yen may fall to 165 against the dollar.

The agency with the most accurate forecast for the yen said that although the Japanese authorities may work hard to curb the decline of the local currency, the yen may fall to 165 against the dollar.
Alvin Tan, head of Asia foreign exchange strategy at RBC Capital Markets, predicts that the yen may fall to its lowest level since 1986.
The main reason for the weakening of the yen is the huge interest rate differential between the United States and Japan. Even if the market has expectations for possible intervention by the Bank of Japan, it is not enough to completely calm the bearish sentiment.
Tan said that intervention will only be effective if it is coordinated by the United States. Investors are likely to push USD/JPY higher this year. The exchange rate will break through 160 again and reach around 165.
Tan said the yen could weaken further if the decline remains slow.

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