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Monday saw Citi note that "USD/JPY.......>

DOLLAR-YEN
DOLLAR-YEN: Monday saw Citi note that "USD/JPY rallies will continue to be
capped by exporter hedging, slowing foreign investment flows by local Japanese
investors and U.S. yield curve bull flattening." In their H220 outlook they note
that "USD/JPY is likely to retest March lows. We expect a trend of gradual USD
depreciation vs JPY if risk preferences are steady and sharper declines with
risk-off."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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