From Mizuho Securities believe that the eventual Brexit will send the pair USD / JPY to 101.00 levels from the current 104.40.
If this happens Japanese authorities will have to intervene in the forex market, as Finance Minister Taro Aso warned several times. This will be necessary because of degraded local corporate earnings decline in stock price and possible deflation.
If Britain stays in the EU after June 23, it would send USD / JPY at 107.00 levels, according to Mizuho Securities.
In case of leaving the EU pound and the euro will drop against the dollar and uncertainty about the US presidential election could lead to declines in the dollar and the yen thus remains the only gainer.
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