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Here Is Why USD/JPY Big Upside Move Is Already Behind Us - Nomura
Over the last three months, Nomura's FX trading has been focused on yen weakness. Nomura's core view has been that ongoing political changes would generate a strong push for a ‘New BoJ’ and that this would feed into substantial yen weakness. That scenario has been largely materialized and the yen is now 12% weaker both versus the dollar and on a trade-weighted basis over a short three-month period which overall amounts to one of the largest yen depreciation moves of the past 20 years. Thus, Nomura now believes that it is time to book some profits on Long USD/JPY exposure as the big upside move in the pair is ... (full story)
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