Down but not out
MARKET VOICE
The Fed and the European Central Bank are both widely expected to raise rates by a further 50 basis points in the coming months, while the Bank of Japan (BoJ) is expected to maintain its zero interest rate policy (ZIRP) for a while yet. We think this could bring USD/JPY to above 116 in the near term.
Last Tuesday, BoJ governor Toshihiko Fukui disclosed to the Upper House's Fiscal and Finance Committee that in 1999 he had invested 10 million yen in funds run by Yoshiaki Murakami, who was arrested
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