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USD/JPY daily
Goldman Sachs expresses caution on holding tactical long positions in the Japanese yen (ie short USD/JPY) in the near term, despite its attractiveness as a hedge against a slowing US economy and potential recession risks.
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Conclusion:
Goldman Sachs remains cautious on tactical long positions in the Yen despite its role as a hedge against a slowing US economy. They anticipate potential Yen strength may be limited if current economic and risk conditions persist, and any tactical long positions could be vulnerable to unexpected positive developments in US retail sales or shifts in Fed policy.
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