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The Tell: Investors need to brace for ¥100, currency strategist says

The Japanese yen has rallied 7% against the U.S. dollar, from a high of almost ¥113 to just its lowest level since November 2016, when the buck shot up following the result of the U.S. presidential election. But the yen rally could be far from over, said Ashraf Laidi, head trader and strategist at InterMarket Strategy.

For the past weeks, the dollar-yen pair USDJPY, -0.52% has been trailing a 16-month low, inching lower steadily. The global stock-market volatility that governed much of February led to a lot of yen buying as the currency is considered a haven asset, and a good store of value in times of uncertainty thanks to its liquidity.

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