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Japanese yen could weaken to 135 per dollar in the ‘very near future,’ says Wells Fargo
The Japanese yen may continue to see weakness against the U.S. dollar if the policies of the Bank of Japan and Federal Reserve continue to diverge, said Wells Fargo Securities’ Brendan McKenna. “We certainly see a move up through 130, we think that’s definitely possible,” McKenna told CNBC’s “Squawk Box Asia” on Wednesday. “Assuming BOJ policymakers stay committed to their easy monetary policy ... framework, we think a move up towards maybe 135 [yen per dollar] could be likely within the very near future,” the foreign exchange strategist said. The yen fell nearly 6% against the greenback in March, ... (full story)
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