CORRECTED-Deutsche, Goldman stop long Japanese yen trade recommendations after Takaichi win

ReutersOct 6, 2025 7:03 AM

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Oct 6 (Reuters) - Currency strategists at Deutsche Bank and Goldman Sachs have closed long Japanese yen trade recommendations after the country's ruling party picked Sanae Takaichi as its head.

"We went long (Japanese yen) ... but are now getting out following the LDP election outcome this weekend. Sanae Takaichi’s surprise victory reintroduces too much uncertainty around Japan’s policy priorities and the timing of the (Bank of Japan) hiking cycle," said Deutsche Bank's global head of FX research George Saravelos in a note to clients.

The yen was set for its biggest daily fall in five months on Monday, with the dollar up 1.8% at 150.1 yen. JPY=

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