Mizuho: The US and Japan may further decline following chip stocks

On September 4th, the Jinshi data reported that in a report, Ruihui Securities strategists Masafumi Yamamoto and Masayoshi Mihara stated that if US semiconductor stocks continue to fall, even if US economic data shows strength, buying yen as a safe-haven trade may also lead to further decline in the US dollar against the yen. The US Institute for Supply Management (ISM) data has been below market expectations for the fifth consecutive month, hindering the short-term Rebound of the US dollar against the yen.

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