Yen Pre-Trump High Looms on Geopolitics, Reflation Unwind
- Implied volatility, risk reversals suggest yen appreciation
- Japan’s currency may surge on any military action, Ueno says
BOJ’s Kuroda Says FX Rate Can Affect Inflation Rate
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Marine Le Pen may be about to undo the Donald Trump effect, at least when it comes to the yen.
The currency is advancing toward 105 per dollar, a level last seen just after U.S. voters unexpectedly elected Trump in November. One-month risk reversals show traders are about the most bullish on the yen since June, while speculators have resumed bets the Japanese currency will strengthen.