Yen Tipped to Test 105 Per Dollar as Seasonal Flows Kick in
- January-March the worst quarter for dollar-yen in last 4 years
- Investors increasingly focusing on flows for FX moves: Uchida
Photographer: Tomohiro Ohsumi/Bloomberg
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The yen looks set to rise toward 105 against the dollar again, with the Bank of Tokyo-Mitsubishi UFJ Ltd. and Daiwa Securities Co. predicting a boost from fiscal year-end repatriation flows.
Japanese exporters left behind in the dollar-yen’s rapid slide this year will sell into any advance in the pair, according to Daiwa. That’s expected to support the yen further, even as market positioning on the currency shows a mixed trend.