HALISTER1: Deutsche Bank Wealth Sees Yen Weakening to 110, Fed Holding Rate

Deutsche Bank Wealth Sees Yen Weakening to 110, Fed Holding Rate

(Bloomberg) -- JPY could weaken to 110/USD in 12 months from current levels around 102/USD on BOJ action and fiscal stimulus, Christian Nolting, global chief investment officer for Deutsche Bank Wealth Management, says at briefing in Singapore.
  • Co. previously forecast JPY to reach 120/USD in 12 months
  • Co. sees Fed ruling out rate hikes this yr; not in camp of Fed cutting rates
  • EUR could weaken to $1.05 because of weak growth, he says, without specifying timeframe
  • China likely to take “step-by-step approach” in weakening CNY as USD won’t “massively strengthen”; CNY to drop to 6.90/USD to 7/USD in 12 months
  • Co. favors EM USD bonds in Asia because of growth versus those in Latam due to political risks
  • READ: Credit Suisse Private Bank Sees Fed Hike in Dec., PBOC Easing
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Christian Nolting (Deutsche Bank AG)

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