Euro/Yen Forecasts Cascade Pattern for Sixth Year, Analyst Predicts New High
TOKYO, November 21, 2023 – The euro/yen exchange rate is poised to continue its established cascade pattern for a sixth consecutive year, according to Ueno Daisaku, a columnist at Reuters. This projection anticipates a new record high for the pair by year-end, building on a trend observed as 2018.
Ueno’s analysis, based on observed market behavior, suggests continued downward pressure on the yen against the euro. This impacts Japanese importers, European exporters, and investors holding positions in either currency.The sustained cascade pattern – where each year’s high is surpassed – signals a possibly meaningful shift in the relative value of the two currencies, with implications for trade balances and investment strategies.
Ueno Daisaku has been in his current position since April 2013. His firm has been ranked number one in the foreign exchange category for five consecutive years in the analyst rankings sponsored by the Nihon Keizai Shimbun, starting in 2005.
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