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Yen Set to Tumble on BOJ Disappointment

18 Sep

Summary

Strategists anticipate yen weakening due to expected BOJ dovishness.
Wells Fargo & Co. advises investors to bet against the yen.
Citigroup forecasts the yen potentially reaching 159 against the dollar.

Market strategists are projecting a notable decline in the value of the Japanese yen. This forecast stems from expectations surrounding the Bank of Japan's policy meeting scheduled for Friday. Investors anticipate that the central bank's decisions will fall short of hawkish expectations, leading to disappointment.

In light of these anticipated market movements, Wells Fargo & Co. has advised its clients to consider betting against the yen. Furthermore, Citigroup Inc. has put forth a projection that the Japanese currency could potentially depreciate to the 159 level.

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