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Japan Scandal Gives Fresh Boost to Yen Bulls Eyeing 100 Mark

  • BOJ speculation, political pressure add to case for strong yen
  • Technicals suggest a break of 105 could lead to move past 100
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Japan Finance Minister Refuses to Quit as School Scandal Deepens

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A deepening political scandal that has rattled Japanese Prime Minister Shinzo Abe’s administration has become a fresh reason for yen bulls to spy a move past 100 per dollar.

The stars had already been aligning for the yen to potentially cross 100 for the first time since 2016, thanks to a combination of trade flows, investor positioning and monetary policy. Now Finance Minister Taro Aso has come under pressure thanks to a controversial land deal and currency traders are taking notice.