In view of the research team at Nomura, the japanese yen is likely to be the best currency to buy against the dollar in the coming months.
«The yen remains the currency G10 higher yield this year (and in the last month). In recent days, the yen has begun to weaken in front of some crossings key, in particular the euro — EUR/JPY has touched 115, its level before the election of US before bouncing higher. This suggests that the yen may not be the only or indeed the best currency to buy against the dollar in the coming months. However, in the short term, the French elections, the possibility of a shutdown of the u.s. government and the risk appetite is still fragile (we’re still close to the risk aversion) suggest that the yen could continue to function well.
In addition, it is likely that the trade policy of the united States to continue to focus on the trading partners of the united States, including the yen. Both the USD/TWD as the USD/KRW has fallen to its levels prior to the u.s. elections, but the USD/JPY has still not been (around 105)».