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Author

Sofia Alvarez

FX & Central Banks Editor

Sofia Alvarez has spent 10 years reporting on currency markets and monetary policy, with a focus on Federal Reserve, ECB, and emerging-market central bank decisions. She holds a master's degree in economics from the London School of Economics and previously worked as a macro analyst at a foreign exchange desk. Her coverage explains how policy shifts and rate decisions move currency and bond markets.

Covers:
  • forex
  • central-banks
  • macro
Latest by Sofia Alvarez
Citi Forecasts USD/JPY at 163 if Topix Stock Index Hits 4,500

Citi Forecasts USD/JPY at 163 if Topix Stock Index Hits 4,500

Jul 9, 2026

A new Citi research note projects the Japanese yen could fall to 163 per dollar if the Topix index reaches 4,500, citing the historical link between strong equities and a weaker currency. However, analysts warn this correlation has recently loosened due to policy shifts and intervention.