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yenCNBC
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79% Informative
Japan 's yen has seen sharp volatility, with the currency weakening in June to levels not seen since 1986 .
The yen strengthened over 12% in the space of about three weeks against the dollar from the July 3 level of 161.99 to 141.66 on Aug. 5 as BOJ raised rates.
Analysts say the yen's safe-haven status remains largely intact due to its "predictability".
He does not completely rule out a rate hike by the central bank, noting that second quarter GDP showed a stronger-than-expected recovery in private consumption, which could bolster the case for a hike. Chung differs in his assessment: "The volatility of the yen has probably seen its peak this year given that the unwinding of the 'carry trade' has already partially happened and the actions of the central banks will likely be less of a surprise to the markets." The two experts agreed that the yen's path will likely be dependent on the growth outlook of the U.S. economy..
VR Score
90
Informative language
96
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64
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English
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