Crédit Agricole wins with moderate stance on yen

Dollar-yen July 22

Crédit Agricole CIB has topped this week's three-month currency forecast rankings after predicting yield differentials and Japanese policy would pull the volatile yen in opposing directions, tempering the currency’s weakness against the US dollar.

On April 19, when USD/JPY was trading at 98.93, Crédit Agricole forecast the pair would rise to 100 in three months' time. Its prediction proved accurate, as the pair was trading at 99.50 on July 15, but it has been a bumpy ride, with the dollar

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