The continued slide in the yen has raised concern, but what happens in the bond market will determine whether the bearishness extends far beyond Japan
Yen bearishness is pervasive. In a report on July 7, Bank of America said that “for the first time in years, we didn’t meet a single yen bull during our investor meetings last week”. Some analysts believe there is a risk that Japan’s currency, which is trading at around 162 yen per dollar, could fall to 180 in a year’s time.