Goldman Sachs strategists noted that due to pressure from the U.S. bond market we will see the yen weakening in the short term, which will outweigh any positive impact of changes in monetary policy of the Bank of Japan, writes Bloomberg.

If the market continues to bet, but on steady growth of the US economy and further increase of interest rates, there is a probability of “tactical lag of yen”, strategists of investment banks consider. According to them, the Japanese currency usually weakens when the yield of the US Treasury securities adjusted for inflation grows.

Yen forecast

The yen fell to a two-month low of 136.55 per $1 on Monday before recovering its losses.

According to the bank strategists, only the real rate in the USA should matter the most, and the current market conditions are less favorable for the dollar’s decrease against the yen, even in case of a hawkish turn in the policy of the Bank of Japan

Earlier we reported that Puma’s 2022 revenue rose 19% to a record €8.47 billion.