Redeker: FX Inflexibility Behind Yen-Dollar Move
Foreign-exchange traders are becoming increasingly confident that the Bank of Japan won’t stand in the way of further yen strength after the currency surpassed 100 per dollar for the second time this year. Strategists at Bank of Tokyo-Mitsubishi UFJ Ltd. and Morgan Stanley see the yen extending this year’s almost 20 percent gain versus the dollar, further confounding policy makers who are seeking to spur growth and inflation in the world’s third-largest economy. Morgan Stanley Global Head of FX Strategy Hans Redeker discusses with Bloomberg's Manus Cranny on "Countdown."
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