The most-significant change in Goldman Sachs' latest global forecasts is it now expects the dollar to hold steady against the yen at 80 for the next 2 years. That a more-bearish yen outlook than Goldman's previous forecasts, which called for the currency to gradually appreciate against the dollar. While expectations for more Bank of Japan easing has prompted some US banks to revise their 2013 USD/JPY forecasts to as high as 90, Goldman says the recent yen weakness has "moved too far." But it notes Japanese policymakers will also prevent the yen from strengthening too much. The dollar is currently at Y81.91.
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