Yen Rising to 120 on Cards For Macquarie, Defying Army of Bears
- Japan’s currency may gain 33% if Fed cuts aggressively: Berry
- Investors shorting yen now are “sleeping with one eye open”
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Yen bulls have largely been in hiding recently, but one notable outlier is Macquarie Group Ltd.
The yen may strengthen to around 120 per dollar — about a 33% jump from current levels — in 18 months or more, according to Gareth Berry, FX and rates strategist in Singapore. Much of this outcome will depend heavily on the Federal Reserve slashing interest rates to bolster demand in the event of a huge scare in the world’s biggest economy.