A note from SG's Kit Juckes, with a summary up on Bloomberg web too (link).
In brief, says yen is likely to benefit most among currencies
- as disinflationary pressures increase
- and investors shun risk
Juckes warns of a danger that it will be as difficult to revive inflation
- "In this fight against disinflation, the currency winner is likely to be the yen"
- "Risk aversion always helps the yen."
Recommends selling euro/yen
