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Yen pressure likely as local investors search for yield

Posted by WorldWideMarkets . on May 23, 2013 3:33:00 AM

Japan yenThe BOJ is over and with no real surprises its onward and upward for the dollar against the yen and the move back over 103 came swiftly on Wednesday. There may be some resistance at the 105.16 level, the next 4-1/2 year peak to break, but the trend is intact. The yen is likely to see only more pressure as local Japanese investors search outside the country for yield.

 

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