Fundamental Forecast for Japanese Yen

There is a critical difference between a currency that is driven by its funding status in the carry trade and one that is treated as a safe haven. On the surface, the two may seem the same since they have recently produced the same end result. A clear example can be drawn from the Japanese yen and the US dollar; both of which have established considerable bull trends over this past month thanks to a strong pace behind the recent wave of risk aversion that has washed over the markets. However, it is critical to discern the differences between these two roles; because the yen’s continued strength is fully dependent on one and threatened by the other.

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