Recently, influenced by the infinitely loose monetary policy proposed by the new Japanese Prime Minister Shinzo Abe, the yen began to depreciate sharply. The dollar hit a 20-month high of 86.63 against the yen. Since 20 12, the RMB has appreciated by about 13% against the Japanese yen.

Morgan Stanley: The dollar is expected to rise to 92 yen by the end of next year.

Morgan Stanley said that because the Bank of Japan may adopt a more radical easing stance, this should trigger a weaker yen. 20 13 yen will be weak, and the dollar is expected to rise to 92 yen by the end of next year, but the rise of euro/yen may be more obvious.

Citigroup: The yen will fall next year.

Citigroup expects the yen to fall next year, but the Fed's low interest rate policy means that the yen will fall to around 85 yen at the lowest, to 1 USD. Citigroup pointed out that many factors, including the possible downgrade of Japanese government bonds and the deterioration of Japan's trade account, will depress the yen's decline. It is estimated that the exchange rate of USD/JPY in the spring of 20 13 will be in the range of 85-86.

Due to the downward trend of 20 13 yen, Japan's economic fundamentals show signs of recession, while monetary policy is loose. Therefore, if there is Japanese yen in hand at present, which is of no practical use, it is suggested to throw it out as soon as possible and convert it into pounds or euros.