Yen Strength Here to Stay for SocGen as Currency Is `Dirt Cheap'
This article is for subscribers only.
The yen’s appreciation this year could see it come under pressure in the short term, but the currency should be underpinned in the longer term by its cheap valuation, according to Societe Generale.
The yen has strengthened almost 5 percent since the start of this year owing to a confluence of factors including investor pessimism on the dollar, rising speculation that the Bank of Japan could move toward policy normalization and demand for haven assets following the recent spike in market volatility gauges.