The USD/JPY pair is forecast to trade at 103 by the end of the fourth quarter and at 101 by the first quarter at CIBC. They point out that Japanese politics did not alter markets. Key Quotes: “Although the BoJ revised up their assessment of the domestic economy, there remains little expectation any immediate policy change. For now, the central bank assumes that domestic activity will rebound, in part due to accommodative financial conditions. The BoJ also upgraded both its export assessment and industrial output outlook. However, a declining trend in capital investment suggests that any recovery will remain slow and protracted, underlining ongoing policy inertia.” “The unexpected resignation of PM Abe failed to materially destabilise asset markets.” “For now, markets are happy to assume that the policy backdrop remains broadly unchanged.” “With monetary policy on auto-pilot, we expect limited upside pressure on domestic yields. Therefore, if we are to see additional JGB-UST spread compression, key to additional USDJPY downside, it may have to come from the US side of the equation. However, the perpetuation of limited yield pick-up is likely to see Japanese domestic investor flows remain well below year-ago levels amidst potential US election related political uncertainty. Limited yield pick and risk uncertainty point towards ongoing JPY impetus. The BoJ/MoF may only start to become uncomfortable should JPY gains begin to threaten 101.19 year-to-date lows prior to year-end.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/TRY hits fresh record highs as Russian warns Ankara FX Street 2 years The USD/JPY pair is forecast to trade at 103 by the end of the fourth quarter and at 101 by the first quarter at CIBC. They point out that Japanese politics did not alter markets. Key Quotes: “Although the BoJ revised up their assessment of the domestic economy, there remains little expectation any immediate policy change. For now, the central bank assumes that domestic activity will rebound, in part due to accommodative financial conditions. The BoJ also upgraded both its export assessment and industrial output outlook. However, a declining trend in capital investment suggests that any recovery will remain slow… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.