The Japanese Yen, being a risk barometer, has depreciated in the last few days, courtesy of easing US-China trade tensions. However, trade talks may not lead to a permanent trade deal and investors should continue to hold cheap safe havens like the Yen, Zach Padl, Co-head of FX, Rates and EM Strategy at Goldman Sachs told Bloomberg.
The Yen should be held by both FX traders and investors looking for portfolio protection.
Indian Rupee and Brazilian Real could benefit from the calm in the financial markets.
Looking into the fourth quarter, we do not see a sustainable path for proper US-China trade deal.
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