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Yen Unlikely to Repeat 2024 Summer Surge as U.S. Rates Stay High

A repeat of the sharp yen appreciation seen in the summer of 2024 is unlikely under current conditions, with persistently high U.S.

  • UBS chief investment officer Daiju Aoki says yen surge unlikely to repeat.
  • High U.S. interest rates and structural pressures make significant yen appreciation challenging.
  • Dollar expected to remain near 155 yen to 157 yen through August to September.