13 June 2016 at 23:59 GMT
Nikkei Asian Review
Concerns that the UK may leave the EU have already begun strengthening the yen and weighing down Japanese shares. Should the UK public vote to quit the EU, a plunging pound and other market movements are expected to drive risk-averse investors to the yen. The Japanese currency is likely to strengthen to about ¥100 to ¥102 to the dollar. An exchange rate near ¥100 could lead the BoJ to sell yen or implement additional monetary easing, slowing buying of the currency. But with the US election coming up in November, Washington has toughened its stance on Japanese intervention in the currency market. The equities market is also feeling the pressure from a possible Brexit.
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