Analysts at TD Securities note that the JPY has gained across the board as FX markets has waken up to major volatility and sharp moves.
Key Quotes
“We think this may only exacerbate what is already a repatriation back into Japan. With more uncertainty over the horizon, USDJPY is likely to continue to trade heavy in the coming weeks as the JPY continues to flag cheap on a host of metrics. 105 should mark an important reassessment/support level.”
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