USD/JPY hits the soft target of 147 – Danske Bank

USD/JPY has steadily declined from 157 to around 148 YTD, as narrowing US-Japan yield differentials and a volatile global investment environment have generally favoured the JPY, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.

USD/JPY to move towards 145

"The currency remains the second-best G10 performer against the USD this year, trailing only SEK. On Friday, we hit our soft target of 147 in our short USD/JPY trade from our FX Top Trades 2025, initiated on January 14. Given further upside potential for the JPY, we maintain our short position in USD/JPY and move the trailing soft target to 145."

Mar 10, 2025

EUR/USD: Focus shifts toward cyclical US growth – Danske Bank

EUR/USD has stabilized in the 1.08-1.09 range after a highly volatile week, marking its biggest jump since 2009 following a regime shift in euro area fiscal policy, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.

USD/CAD to tick down to 1.41 – Danske Bank

For CAD FX, all eyes will be on Wednesday, with the BoC meeting at 14:45 CET, where markets and consensus favour a 25bp rate cut, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.