BOJ Seen as Toothless for Yen Bulls Boosting Currency Forecasts
- Barclays sees yen climbing to 95 per dollar by year's end
- Options traders close to most bullish since middle of 2010
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Currency strategists are writing off Japan’s ability to weaken the yen through intervention or further monetary easing as the currency continues to benefit from financial-market turmoil.
Barclays Plc, the world’s third-biggest currency trader, raised its year-end forecast for the yen to 95 per dollar from 120. Bank Julius Baer & Co., the top yen forecaster in Bloomberg’s foreign-exchange rankings, predicts the currency will end the year at 110, after revising its earlier estimate of 118, according to data compiled by Bloomberg. Options traders are close to the most bullish in 5 1/2 years, risk reversals show.