Yen glides over BoJ speed bumps

MARKET NEWS

The yen continues to benefit from a soft dollar, despite the Bank of Japan’s attempts last week to stop it strengthening, says Chris Furness, senior currency analyst at 4Cast in London

Since the end of March there has been a growing belief that the long-awaited fall in the value of the dollar has begun. The move lower has been exacerbated by capitulation of widely held long dollar/yen positions, and indications that the Japanese economy was at last starting to show signs of recovery.

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