A BOJ Rate Cut? That's Unlikely, Says Turner

Strategists forecasting the yen will post its first annual gain since 2011 are standing their ground in the face of a rout driven by speculation the Bank of Japan will expand record stimulus. The yen remains this year’s strongest major developed currency even after a 2.4 percent tumble this month following Ben S. Bernanke’s visit to Tokyo last week, which spurred speculation the BOJ would directly finance government debt -- a policy known as helicopter money. The yen climbed the most in almost a month on Thursday after BBC Radio 4 broadcast an interview with Governor Haruhiko Kuroda, that was recorded on June 17, in which he saidthere is no need and no possibility of introducing such a policy. ING Head of Foreign Exchange Strategy Chris Turner discusses with "On the Move" hosts Guy Johnson in London and Caroline Hyde in Berlin.

Full Show: Bloomberg Daybreak: Americas (09/21)
30:17 - Bloomberg Daybreak: Americas hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include Joachim Fels, global economic advisor at Pimco, Steve Liberatore, managing director at TIAA Investments, and Jim Caron, senior fixed income portfolio manager at Morgan Stanley Investment Management. (Source: Bloomberg)
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