RBC have lifted their year-end forecast for USD/JPY to 150. Previously were at 145.

<p>RBC have moved their end-2023 USD/JPY forecast to 150 from their previous call for 145. </p><p>RBC says that the July Bank of Japan meeting will be a disappointment for those expecting a policy adjustment from the Bank. RBC adds, though, that they do expect the BOJ to adjust its YCC program later in 2023. </p><p>Earlier re yen and BOJ:</p><ul><li><a href="https://www.forexlive.com/centralbank/more-on-boj-dep-gov-uchida-and-a-july-tweak-we-will-continue-ycc-for-the-time-being-20230706/" target="_self" rel="follow">More on BOJ Dep Gov Uchida and a July 'tweak': "We will continue YCC" for the time being</a></li><li><a href="https://www.forexlive.com/centralbank/mr-yen-sakakibara-says-usdjpy-could-soar-beyond-160-before-intervention-from-the-boj-20230706/" target="_self" rel="follow">"Mr. Yen" Sakakibara says USD/JPY could soar beyond 160 before intervention from the BOJ</a></li><li><a href="https://www.forexlive.com/centralbank/nomura-looking-for-higher-usdjpy-in-near-term-but-eyes-on-the-boj-and-intervention-risk-20230706/" target="_self" rel="follow">Nomura looking for higher USD/JPY in near term, but eyes on the BOJ and intervention risk</a></li></ul><p>USD/JPY update, dribbling a little lower in early Tokyo time:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.