A CIBC assessment on the dollar-yen via Bloomberg TV
JPY may rally toward 105
- Japan's fiscal spending announced last month
- expected tourism boost into the Olympics
- higher bond yields
Elsewhere:
- Recovery in China and other Asian economies
- US-China trade agreement
Should support growth-leveraged currencies (KRW, SGD)
On the NZD - to gain vs. AUD
- RBNZ to be more cautious about a rate cut
- Australian bushfires will cut the GDP growth rate, gives potential for another RBA cut and QE