Investors Showing 'Remarkable Enthusiasm' for Yen, HSBC Says -- Market Talk

Dow Jones
2025/03/20

0148 GMT - Investors have been showing "remarkable enthusiasm" for the yen, the HSBC Global FX Research team says in a research report. CFTC data on noncommercial positioning have indicated the number of gross long yen futures contracts have recently surged to unprecedented levels, the team notes. HSBC cites several key reasons for the market's recent optimism, such as the Bank of Japan's rate-increase cycle looking more sustainable and the yen appearing to be a more reliable safe haven than USD amid worries over weakening U.S. economy. HSBC recently lowered its USD/JPY forecasts to 145 from 154 for 1Q, to 148 from 156 for 2Q, to 150 from 158 for 3Q, and to 154 from 160 for 4Q. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

March 19, 2025 21:48 ET (01:48 GMT)

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