Barclays says there is a risk of renewed yen weakness. Barclays’ analysts cite factors contributing to this risk include: 1) Trump’s trade policies 2) U.S.-Japan interest rate differentials 3) capital outflows from Japan. The analysts caution that policy announcements or statements made around Trump’s inauguration could strengthen the USD. Additionally, any BOJ rate hike next week is largely anticipated and may even weaken the JPY if perceived as dovish
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