Goldman Sachs Raises USD/JPY Forecasts to 162-165 on July 5

According to CNBC, Goldman Sachs raised its dollar-to-yen exchange rate forecasts on July 5, projecting 162 yen in three months, 163 yen in six months, and 165 yen in 12 months—up from previous estimates of 160, 158, and 155 yen respectively. The bank cited sustained high U.S. Treasury yields, low recession risk, persistent fiscal concerns, and Japan's gradual rate hikes as factors supporting continued yen weakness pressure. Goldman Sachs noted past Japanese intervention temporarily slowed yen depreciation but was followed by resumed USD/JPY appreciation, expecting similar patterns if authorities intervene again.
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