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Wall Street Strategists Split on Yen Rally Outlook

Bloomberg Markets •
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Wall Street strategists are divided over whether the yen's latest rally can persist, even as the Bank of Japan leans toward raising its benchmark rate by a quarter point this month in response to mounting price pressures. Wells Fargo & Co. says the central bank may struggle to deliver more rate hikes than markets already expect, limiting further gains in the yen. JPMorgan Chase & Co. says a stronger yen could itself reduce the BOJ's incentive to raise rates. The disagreement highlights uncertainty over how much further the yen can climb from current levels.