Standard Chartered adds fair-value model for yen

- By FX Markets Staff
- @FXMarkets_
- 04 Sep 2006

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The SCB JPY Fair Value Model indicates that the unit is not as undervalued as many think, according to Mike Moran, New York-based senior FX strategist at the bank.

The model makes use of interest rate, money supply and income differentials between the US and Japan to provide a fair estimate for USD/JPY.

The fair-value estimate as of August 30 was 110.25, according to the model, making it overvalued by around 6%. The model therefore currently suggests the recent USD/JPY rally is not justified by

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