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2026-09-18 07:10:09
Wells Fargo Bearish on the Yen: BOJ May Struggle to Meet Hawkish Expectations, Recommends Buying USD/JPY 1. Wells Fargo recommends selling the yen against the dollar before the Bank of Japan (BOJ) announces its interest rate decision, believing that the BOJ's policy力度 (policy力度) may not meet or even exceed the market's current hawkish expectations. 2. Chidu Narayanan, Head of Asia Pacific Macro Strategy at Wells Fargo, stated in a report that the market has already priced in an expectation of 25 basis point rate hikes at every meeting until July 2027. Reaching this threshold is very difficult for the BOJ, and exceeding it will be even more challenging. 3. Based on the above judgment, Wells Fargo recommends buying USD/JPY, with a target price of 159 and a stop-loss order at 153.40.
