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2014年,日本货币宽松可能进一步扩大,而美联储则或退出QE。预计美元/日元将在2014年整体持续单边上涨。美元/日元在2013年上半年延续了自2012年年底启动的强劲上扬走势,一口气自86.00附近升至103档中部,升幅大约20%,在各主要货币对中首屈一指。汇价的强劲上扬背后是日本央行行长的更替以及货币政策风格的转换——黑田东彦的激进宽松政策在年初取代了白川方明的渐进宽松政策。此后,随着市场对日本央行激进宽松政策的效果开始质疑,以及美国、中国等经济体增长
In 2014, Japan’s monetary easing may further expand, while the Fed may withdraw from QE. The dollar / yen is expected to continue to rise unilaterally overall in 2014. USD / JPY extended its strong upward trend started in late 2012 in late 2013, with a slippage of around 20% from around 86.00 to the middle of the 103th and one of the major currency pairs. Behind the sharp rise of the exchange rate is the switch of the Bank of Japan Governor and the switch of the monetary policy style - Kuroda’s aggressive easing replaced Shirakaf Francis’s gradual and easing policy at the beginning of the year. Since then, as the market has begun to question the effect of Bank of Japan’s easing easing and growth in the United States, China and other economies