From Bloomberg Markets and Finance.

Toronto Dominion Bank Head of FX Mark McCormick discusses the outlook for the yen as the currency extended its advance to rally more than 1% against the dollar, reducing the need for Japanese authorities to step into the market again to support the beleaguered currency. "Japan [the yen] in particular is the one currency that probably, depending on your model, could be 50 to 70 percent undervalued," McCormick said on Bloomberg Television.

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