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USD/JPY upside appears limited – TDS

Analysts at TD Securities assessed the perspective around the Japanese currency.

Key Quotes

“Abe's resounding electoral win has given USDJPY a lift, but we think this will remain relatively short-term”.

“We think the unwind of the USD bull market, along with global and domestic politics constrain upside potential in USDJPY even as YCC remains appropriate for now. Valuation factors favour a stronger JPY”.

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