Investors will be watching closely as earnings season kicks off in Asia later this week, with a “lack of investor interest” in the dollar against the yen likely to prove positive for further weakening in the Japanese currency, according to UBS.
“With China and Greece dominating the recent news flow, Japan remains off the radar of many investors,” Daniel Waldman, a currency strategist at UBS, said on Tuesday.
“However, with inflation still low, the Bank of Japan’s reflation efforts are likely to remain significant in the second half, further benefiting long dollar/yen, where we remain bullish and think risk-reward is strong.”
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