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Don't bet on Trump, UBS warns, as yen set to strengthen

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Published Tue, Nov 29, 2016 · 09:50 PM

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    Tokyo

    UBS Group AG's US$2 trillion dollar wealth-management arm says yen traders have got Donald Trump all wrong, and the currency will strengthen to 98 per dollar by this time next year.

    The firm's Tokyo-based head of Japanese equity research Toru Ibayashi says expectations for fiscal expansion have become overblown, and protectionist policies will come first in the new US administration.

    yen

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