BNY Mellon's Yu predicts US dollar weakness vs Japanese yen, potential carry trade unwinding.
BNY Mellon's Geoffrey Yu predicts that the US dollar will continue to weaken against the Japanese yen until the end of the year, due to the carry trade's potential to continue unwinding. The yen has risen sharply, signaling the unwinding of the carry trade. Yu also suggests that the dollar will outperform higher-yielding currencies like the Mexican peso but may face limits against the Chinese yuan.
August 21, 2024
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