Nikkei: Yen less likely to soften vs. USD despite short-term chaos after US elections
The Nikkei, Japanese daily, published its latest outlook for the yen in relation with the outcome of today’s US elections.
Key Quotes:
“With more market players convinced that a probable U.S. rate hike in December would be the last one for some time, the yen is less likely to soften against the dollar despite some possible short-term chaos after the American presidential election Tuesday”
“The yen, like the Mexican peso, will respond sharply to developments in the U.S. presidential election, said Hans Redeker, global head of FX strategy at Morgan Stanley”
“If Republican candidate Donald Trump becomes more likely to win, the yen would be bought as a safe asset”
“But if Clinton's prospects rise, the yen would be sold as investors grow more comfortable with taking on risks”
“The yen-dollar rate may swing wildly as the election's outcome becomes clear”
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Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
