Goldman Sachs forecast the downward course for Dollar to Yen to continue with a USD/JPY rate of 95 in the near future.
Japan’s efficient management of COVID-19 leaves the economy well-positioned for recovery, and the yen could benefit. As other developed countries have reduced interest rates to stimulate their economies the yen is now not the only “low-yield currency”.
As a result, it has seen renewed demand from investors and could prove popular outside its usual safe-haven role.
The JPY lost value in November as stock markets appreciated with positive market sentiment associated with Joe Biden’s election win and vaccine news. Currency Update