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TOKYO--J.P. Morgan Friday revised up its dollar forecasts versus the yen, citing the significant change in perception toward Japanese politics and policies by overseas investors as one factor.
J.P. Morgan now expects the dollar to trade at Y87 at the end of 2013, compared with its previous forecast of Y79. The house sees the euro at Y117 at end-2013, up from the Y106 figure it previously expected.
"The extent of the yen's depreciation and the rally in the Nikkei may stimulate domestic investors' risk appetite and encourage self-sustaining capital outflows," the bank said in a note.
Write to Kosaku Narioka at kosaku.narioka@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
source: http://www.nasdaq.com
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