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On $JPY - the problem with intervention is that once the genie is out of the bottle… it’s hard to put it back in. We’re at a stage where MoF/BoJ have no choice but to intervene. The best way would be for BoJ to hike 25bps this week. It’s not about the macro anymore (BoJ…

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Viraj Patel@VPatelFX

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