0539 GMT - Nomura recommends being long JPY against several currencies amid U.S. tariffs, the brokerage's Global Markets Research team says. "Beyond its relative safe-haven status, Japan's macro backdrop remains relatively strong and rate differentials are expected to continue to favour JPY," the team says in a research report. Nomura suggests long JPY versus short THB, long JPY versus short KRW, and long JPY versus short GBP. Common themes for Thailand and South Korea include weak local macro backdrops and the likelihood of more aggressive central-bank rate cuts, the team says. For GBP, the U.K.'s economic vulnerabilities may deter capital inflows, given that the U.K. continues to face persistent stagflationary and fiscal risks, the team adds. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 01:39 ET (05:39 GMT)
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