UBS: The yen is expected to rise by more than 10% by the end of next year and it is recommended to buy

Odaily News UBS recommends buying the yen, predicting that the yen will rise by more than 10% against the dollar by the end of next year as the market continues to reduce its speculative positions in the yen. The bank expects USD/JPY to reach 145 by the end of this year and 130 by the end of 2025. Strategists such as Shahab Jalinoos said that speculative positions may be further lost, which may benefit low-yielding currencies. They added that for the yen to fall back above 150, "it may require the market to be very wrong about the sharp slowdown in the US economy." (Jinshi)