Mizuho: Yen Behaving Like an Emerging-Market Currency, Not G10
Jordan Rochester, Mizuho's EMEA FICC strategy head, told Bloomberg Television that the Japanese yen is no longer behaving like a typical G10 currency. He said that based on all frameworks, the dollar-yen rate should be lower than it currently is. Rochester noted the yen now trades like an emerging-market currency in terms of its correlation to interest rates.
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