Wells Fargo strategists recommend a tactical short on USD/JPY, targeting 155.80
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According to Bloomberg, Wells Fargo strategists recommend tactically shorting the US dollar against the Japanese yen in the coming weeks, with a target level of 155.80 and a stop-loss at 163.20. Wells Fargo macro strategist Erik Nelson stated that the risk of intervention by Japanese authorities is rising, and the threshold for a Federal Reserve rate hike in July is extremely high.
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