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Aug 13 - 05:00 PM
JPY: Fundamentals Still JPY Supportive; Japan Unlikely To Push Back On Further Strength - Citi
First appeared on eFXplus on Aug 13 - 01:00 PM

Citi Research discusses JPY outlook and maintains a bullish bias, expecting safe-havens demand to remain for longer. 

"Japan is also unlikely to push back on JPY strength as - (1) JPY remains the primary beneficiary of rising risk aversion and global dovishness; (2) TAG negotiations are expected to conclude in September , so Japan may be reluctant to antagonize the Trump administration in the meanwhile; (3) Japanese institutional investors including lifers lower their targets towards 100 to buy FX hedges," Citi notes. 

"Citi analysts remain skeptical the BoJ will cut policy rates anytime soon," Citi adds. 

Source:
Citi Research/Market Commentary

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