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Japanese Yen: BoJ policy story having little effect – ING

ING’s Chris Turner notes that despite sharp moves in Japanese money markets, the Japanese Yen is not finding lasting support. Markets now price a high probability of a Bank of Japan hike in September, narrowing US–Japan swap differentials, yet USD/JPY remains elevated as carry trades persist.

Japanese Yen: BoJ policy story having little effect – ING

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