Yen Bulls Face Reckoning as Economic Data Continues to Dismay
- Retail sales, industrial production loom large for traders
- Dollar-yen may breach resistence at 110 amid bullish momentum
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Investors growing increasingly bullish on the yen may have to reexamine their outlooks if retail sales and industrial production figures due this week add to mounting evidence that Japan’s economy is slowing.
The currency -- the best performer among its Group-of-10 peers last year -- started 2019 with a bang as money managers sought haven assets amid signs of slowing global growth. Analysts from Deutsche Bank AG and Credit Agricole SA to Commerzbank AG predicted the yen will strengthen to as much as 100 per greenback by year-end, driven in part by expectations that the Bank of Japan will pivot away from its massive monetary stimulus program.