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Corporate Hedging Recommendation
Corporate Hedging Recommendation: Hedging Against A EUR/JPY Rally
Click here for the full Note and disclosures.
• EUR sentiment has been dented
by Greece and by sub-par economic data releases. However,
with signs that the Greek situation is now being addressed
and with the recent improvement in Euro area data, we look
for EUR/JPY to rally over the coming 12 months.
• For
buyers of EUR/JPY, we recommend strategies that take
advantage of the current undervaluation in EUR.
• EUR/JPY risk reversals have recovered from the lows
of July last year but look attractive from a long-term
perspective.
ENDS
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