Yen Isn't Behaving Like a G10 Currency, Mizuho Says

Jordan Rochester, Mizuho FICC strategy EMEA head, discusses sharp moves in the yen. "From all the frameworks, dollar-yen should be lower," he tells Bloomberg Television. He adds there has been a change in behaviors in the Japanese space and the yen is not behaving like a G10 currency. "It trades like an EM in terms of its correlation to rates," Rochester says.