From mint · · 1m
Yen Rises on Haven Demand
Japanese yen gains as US tech selloff drives safe-haven flows.
In brief
Japanese yen gains as US tech selloff drives safe-haven flows. Japanese yen rose 0.6% to 157.54 against dollar after US tech shares fell, with CIBC and Nomura predicting further gains by 2027. Originally reported by mint.
Yen strengthens against dollar
Japanese yen rose 0.6% to 157.54 against US dollar on Thursday.
US tech selloff triggers safe-haven flows
Selloff in US technology shares led traders to seek safer assets as Democratic midterms raised AI investment concerns.
CIBC predicts yen to 148 by 2027
CIBC's Sarah Ying expects yen to strengthen to 148 against dollar by end of 2027, a more-than-6% rise from current levels.
Nomura sees yen as best FX trade
Nomura's Dominic Bunning calls yen the 'consistent best FX trade' as equities and yields decline.
“consistent best FX trade”
Yen benefits from BOJ rate hikes
Japanese money managers may rotate investments out of foreign bonds into local assets as Bank of Japan raises interest rates.
The bottom line
Japanese yen rose 0.6% to 157.54 against dollar after US tech shares fell, with CIBC and Nomura predicting further gains by 2027.
