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Japanese school scandal provides fodder for yen bulls

Market grapples with the risk of an end to Abenomics

Abenomics has helped keep the yen comfortably weak for Japanese exporters.   © Reuters

TOKYO -- The re-emergence of a political scandal threatening Shinzo Abe creates support for a strong yen as the currency market takes in the prospect of an abrupt conclusion to the Japanese prime minister's economic program, analysts say.

Forex watchers surveyed this month by QUICK see the Japanese currency at 106.39 yen to the dollar at the end of March, compared with last month's prediction of 109.99 yen for the end of February, the Nikkei group company reported Monday.

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