What Could Push the Yen Above 100?
The yen’s strongest rally in eight years is running into a psychological barrier at 100. Japan’s currency has appreciated to within 0.1 percent of 100 three times since it last traded stronger than that level five weeks ago, and each time it has retreated. Traders say it is running into waves of sell orders, spurring speculation there are ways for Japan to limit the currency’s strength other than direct intervention. Bank of America Merrill Lynch Head FX Strategy Athanasios Vamvakidis discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."