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Jiro Fujiwara's avatar

Thanks & completely agree yr view.

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Mark Kennedy's avatar

Congratulations on being quoted in the New York Times. I read the article by River Akira Davis and Hisako Ueno before seeing your email about it, which of course caught my attention.

Similar to your post last week, which cited Nomura Securities' estimate that much of the yen's recent depreciation has been caused by the desire of domestic Japanese inventors to seek higher returns abroad, the NYT brought home this unintended consequence of BOJ policy. This point really resonated with me.

Despite the Trump administration's stated desire to weaken the value of the USD against other major currencies, including the yen, it seems doubtful that will happen anytime soon.

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