ING Forecasts USD-JPY to Rise to 164-165 Yen Next Week as Yen Weakens

ING0.67%
According to ING, the USD-JPY exchange rate stood at 163.10 yen on July 22, with the bank forecasting further appreciation to 164-165 yen next week ahead of the Bank of Japan's policy meeting later this month. ING stated that low-interest-rate currencies like the Japanese yen and Swiss franc will continue weakening, as investors favor the dollar for its defensive qualities amid rising Middle East tensions and its higher yield potential.
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