Cooling U.S. inflation is proving to be a gamechanger for Nikko Asset Management’s Yasushi Ishikawa. He’s ditched his bearish view on the yen, and now has a ¥135 target against the dollar by year-end.
U.S. real yields are likely to fall quicker than those in Japan as prices there are "coming down with a higher degree of certainty,” said Ishikawa, Nikko Asset’s senior executive director of global multi asset. Before data last week showed U.S. inflation at the slowest in two years, he thought it was possible the yen would weaken as far as ¥150.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.