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Julius Baer downgrades yen, stays bearish on iron ore and steel

An exhausted yen rally USDJPY 3-month forecast: 106; Downgrade view from bullish to neutral Swiss pure play Julius Baer believes that visible headwinds and market over-optimism warrant a downgrade of the currency – from bullish to neutral – and the retention of a USDJPY three-month forecast of 106, even if the yen has some upside remaining. In addition to possibly…

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