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Barclays Predicts Yen May Drop to 150
According to Barclays Bank's forecasts, the Japanese yen could drop against the dollar to levels as low as 150 yen, abandoning the sixties range, if expectations of the Bank of Japan raising interest rates continue or if Japanese pension funds stop expanding their domestic investments. The yen rose by 4% in September, reaching its highest levels since February, supported by interest rate expectations and pension funds shifting their investments domestically. The bank indicated that breaking the support level at 155 yen would increase the likelihood of ongoing decline, with the possibility of the Bank of Japan raising interest rates more aggressively to support the currency.
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