Nomura wins with bearish yen view

The bank predicts prolonged yen weakness against USD, but postpones BoJ easing



Nomura topped last week's three-month forecast tables by anticipating the scope of losses in the yen and the Swiss franc against the US dollar.

On June 27, Nomura forecast USD/JPY, then trading at 101.40, to increase to 108 – a much bolder move than the overall consensus prediction of a rise to 104. Still, the yen's weakness surpassed even the bank's expectations by hitting a six-year low of 109 on September 19, following a meeting of the US Federal Open

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