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UBS Raises USD/JPY Exchange Rate Forecast Due to High Energy Prices
Investing.com - UBS has raised its USD/JPY exchange rate forecast, citing high global energy prices benefiting the U.S. as an energy net exporter, while putting pressure on Japan as a major energy importer.
The firm now expects USD/JPY to reach 155 by June 2026, up from its previous forecast of 152. UBS also raised its September 2026 target from 150 to 152.
UBS maintains its long-term forecast of 148 by December 2026 and 146 by March 2027. The firm expects global oil prices to stay high in the near term.
The bank anticipates that as tensions between the U.S. and Iran ease and global energy flows normalize, the currency pair will trend downward. The ongoing differences in energy trade positions between the two countries continue to influence the exchange rate.
UBS attributes the current support for USD/JPY to the sustained impact of high energy costs on Japan’s import bills, relative to U.S. export earnings.
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