Wall Street’s Call for Yen at 100 Catches On at Japan Banks
- Level more significant for local banks given risk to exporters
- Dollar slump closes ‘perception gap’ on yen view: State Street
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Wall Street and Japan’s largest banks are starting to see eye to eye on the yen’s outlook, saying its advance could break the barrier of 100 per dollar next year.
JPMorgan Chase & Co., Goldman Sachs Group Inc and BNP Paribas SA are all forecasting that Japan’s currency will hit the century mark for the first time in four years in 2021. Rarer still, domestic giants Mizuho Bank Ltd. and MUFG Bank Ltd. are joining them, with estimates that the yen could even push to 98, a level unseen since 2013.