For those seeking a new reason to bet against the Japanese yen, here’s one: a triple-dip recession in Japan.
Japan has slipped back into recession, with the economy shrinking 1.6 percent in the third quarter, surprising economists who forecast it would grow 2 percent.
“I’d expect another 20 percent drop next year, which would take us north of 140,” said Peter Boockvar of the Lindsey Group about the dollar-yen rate. The team at Capital Economics raised their forecast for dollar-yen to finish next year at 140 as well, up from 120 previously.
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