Analyst Abbas Keshvani says the yen is unlikely to recover before the BOJ slows QT, a move planned from April 2027 that should help stabilise JGBs. Japanese bond yields exceed currency‑hedged foreign alternatives; if a BOJ slowdown steadies yields and eases loss concerns, domestic investors may rotate back into yen assets. RBC forecasts USD/JPY at 154 by end‑2027.

2026-06-25

Analyst Abbas Keshvani says the yen is unlikely to recover before the BOJ slows QT, a move planned from April 2027 that should help stabilise JGBs. Japanese bond yields exceed currency‑hedged foreign alternatives; if a BOJ slowdown steadies yields and eases loss concerns, domestic investors may rotate back into yen assets. RBC forecasts USD/JPY at 154 by end‑2027.