HSBC on top with slow-burn forecast on yen weakness
HSBC has topped this week’s three-month currency forecast rankings, after making accurate forecasts on the yen in mid-January, based on a view that strong Japanese equity markets would prevent the currency from weakening too acutely as a result of quantitative easing (QE).
On January 13, with USD/JPY trading at 76.72, HSBC forecast the yen would hold relatively steady against the dollar, rising to just 78 in three months’ time. Although USD/JPY was trading at 81.13 on April 10, according to
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