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Britain's exit could boost the yen

Britain's referendum and a probable upcoming Brexit might bring Japan to monitor even closer how its economy and the financial markets could respond to such a scenario, a governmental spokesman said today.

Hiroshige Seko, Deputy Chief Cabinet Secretary, commented on a probable cooperation scheme with Britain and the European Union to stabilize the financial markets.

Japan may be selling its currency in case of a Brexit

Furthermore, Seko did not comment on whether Japan will be selling the yen in the condition where a Brexit could trigger a high level of volatility in the markets.

Seko highlighted further that, he recognizes that the Japanese bond yields and the Nikkei stock index reached extremely low levels, but in the meantime avoiding to comment more on such levels.

The traders and the investors, especially during uncertainty, tend to buy the Japanese yen. So far this year, the yen appreciated 13% versus the U.S. dollar.

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Wednesday, 15 Jun, 2016 / 8:20

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/britain-s-exit-could-boost-the-yen

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