Evaluating the outlook for USD/JPY in 2024 need not be a complex task, merely requiring you to take a view on how interest rate differential between the United States and Japan may evolve, along with the risk we may see disorderly financial markets, leading to a repatriation of capital to Japan from abroad as carry trades are unwound. While neither are easy to predict, making it any more complex risks creating noise that could easily distract from the signals you should be paying attention to. This report will look at where the Federal Reserve and Bank of Japan (BOJ) sit in their respective interest rate cycles, what ... (full story)