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1 Apr 2014
Fundamentally bearish on Yen - Societe Generale
FXStreet (Guatemala) - Kit Juckes, Global Head of Currency Strategy at Societe Generale is bearish on the Yen on fundamentals.
Key Quotes
"Meanwhile, the yen is making its move. As Japan faces up to a consumption tax increase from 5% to 8% today, 'Abenomics' faces its first really big challenge. The combination of rising global equity markets (and risk appetite) with rising US Treasury yields, is a catalyst for USD/JPY to move higher and as the prospect of further BoJ easing gets closer, now is the time for USD/JPY to head towards and quite probably through 105 in the coming weeks."
Key Quotes
"Meanwhile, the yen is making its move. As Japan faces up to a consumption tax increase from 5% to 8% today, 'Abenomics' faces its first really big challenge. The combination of rising global equity markets (and risk appetite) with rising US Treasury yields, is a catalyst for USD/JPY to move higher and as the prospect of further BoJ easing gets closer, now is the time for USD/JPY to head towards and quite probably through 105 in the coming weeks."