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SocGen bear warns of yen-dollar ‘tidal-wave’
Societe Generale's notoriously bearish strategist, Albert Edwards, believes the Japanese currency will sink to 145 yen against the U.S. dollar by the end of March, forcing devaluations across the Asian region and sending a "tidal wave" of deflation towards the West. "I expect the key (120 yen to the dollar) support level to be broken soon and the lows of June 2007 and February 2002 to be rapidly taken out," he said in his latest research note, released on Thursday morning. "It seems entirely plausible to me that once we break (the 120 yen level), we could see a very quick 25 yen move to 145." The dollar hovered ... (full story)