"We had a cracking year last year, in Japan and internationally."
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One factor which could stymie Japan's recovery is continued strength of the yen against the dollar. The yen is often viewed as a safe haven asset during times like the ongoing Ukrainian crisis. There are unlikely to be any dramatic moves in the dollar/yen for the next few months, Bennett argued.
He added that the bank is still committed to its fixed-income and currencies trading, at a time when rivals are trimming their equivalent divisions.
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"The demise of FICC has been slightly overplayed. This is a huge part of the market and is going to be around for a long time," according to Bennett.