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Monday, April 6, 2009

Yen Continues Sell-Off... Plenty of Room to Go

Reuters reports:

The yen fell broadly on Monday, hitting its weakest against the dollar and the euro in nearly six months as investors took on perceived riskier assets on the view that a global economic downturn may have hit a bottom. The dollar rose as high as 101.45 yen, according to Reuters data, vaulting above 101 yen for the first time since last

"As long as stocks can retain their buoyancy ... risk appetite and risk-based trades will be in vogue and investors will continue to add to and rebuild yen short positions," said Jeremy Stretch, currency strategist at Rabobank in London.