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Global Risks Put Yen at Top of Pile for 2019 Currency Forecasts
The myriad of global risks this year is keeping yen bulls happy and encouraging bets on a world-beating rally in coming months. The Japanese currency is predicted to outperform its Group-of-10 peers by the end of 2019 and gain nearly 3% to 105 per dollar, according to Bloomberg’s survey of currency analysts. With the bullish tone also reflected in the options market, Morgan Stanley and BNP Paribas SA expect tense geopolitics to drive it to a three-year high of 100 by early next year. “The global environment is in what we describe as an ‘unstable equilibrium’ and we think this is going to cause volatility and ... (full story)