Anticipation of yen weakness lands Scotiabank on top

USD-JPY December 17

Scotiabank has topped this week's 12-month currency forecast rankings with an accurate long-term view on USD/JPY, based on the expectation that the economic environment in 2012 would increase pressure on the Bank of Japan to become more aggressive, leading to a weaker yen.

On December 9, 2011, Scotiabank forecast USD/JPY would rise from 77.65 to 82 in a year's time, reversing the strength of the yen that had been a dominant theme throughout 2011. Sure enough, USD/JPY was trading at 82.33 on Dece