Mizuho’s Rochester Says Yen Is Trading More Like an Emerging-Market Currency

Jordan Rochester, Mizuho’s EMEA head of FICC strategy, said dollar-yen “should be lower” based on multiple frameworks, according to Bloomberg. He told Bloomberg Television that behavior in Japanese markets has shifted and the yen is no longer acting like a G10 currency, adding it is trading more like an emerging-market currency in terms of its correlation to rates.