Mitsubishi UFJ: Trump wins, the yen is expected to maintain a downward trend

Jinshi Data, November 6th, SuMiDS Asset Management Co., Ltd. strategist Ichikawa Masahiro said that if Trump wins, the yen against the dollar is expected to maintain a downward trend, which may offset any increase in interest rates expected by the Japanese Central Bank. He said, 'Even if the Japanese Central Bank raises interest rates further, the pace will not be fast.' He also added that Trump's expansionary policies will have a greater impact on the USD/JPY exchange rate by slowing down the pace of future interest rate cuts by the Federal Reserve. As Trump took an early lead in the election results, pushing up US Treasury yields, the USD/JPY exchange rate once reached a three-month high of 154.30.