Yen and euro û when in doubt, throw it out

The yen''s recent ascent on the back of deteriorating fundamentals is puzzling. But will it last?
The yen's strength since April has raised an interesting question why is it so strong when Japan is still stuck with serious economic and structural woes  Well, if one looks at the yen's longer-term performance, its perceived strength is just an illusion. Hence, the Bank of Japan is not overly concerned about the recent ascent of the yen. Fundamental factors will push it even lower in the coming months. 

The JPY illusion 

It is true that the yen has strengthened against the USD and the euro since April. In recent sessions, a dollar buys about 120 yen, compared to 126 back in April. And one euro costs around 102 yen now,...

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