Many currency analysts anticipate the yen weakening to around 105 to 110 per U.S. dollar by year-end, but as the final quarter of the year gets into full-swing the chance of the currency hitting those estimates later than forecast are rising.
Japan’s currency firmed to a one-month peak against the greenback this week around 97, up more than 6 percent from the 4-1/2 year low set in May.
“Dollar/yen trade in recent weeks and months has been an exercise in frustration,” Callum Henderson, global head of currency research at Standard Chartered Bank told CNBC.Analysts say the trend for a weaker yen, which is down roughly 13 percent versus the dollar so far this year, remains intact given the outlook for continued aggressive monetary easing in Japan.
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