Many analysts think that the yen and renminbi could be the ones to watch in 2026 and both for similar valuation-type reasons.
Once again, Japanese policymakers are becoming frustrated by the weakness in the yen. Intervention could be just around the corner but, if past experience is anything to...
The US dollar might spend many decades plunging in the same way as the yen has done?
Many analysts said JGB vulnerability woule be proving a headache for other markets as well – even treasuries.
The Bank of Japan lifted the short-term policy rate for the first time in seventeen years last week but the yen still languishes close to its weakest level against...
Last week, we saw the third attempt by US dollar/yen to really break through the 150 level that has proved an insurmountable barrier twice before since October 2022.
In some ways we can look at the valuation of the dollar as something of a balancing act.
If the Bank of Japan tried to do something meaningful with its tweak to the yield curve control (YCC) strategy yesterday it looks as if it might have failed – and that’s...
What does the inability of US dollar/yen to move too far from 150 tell us about the state of the currency market?
Euro/US dollar has rarely strayed from a 1.05-1.10 range all year while, more recently, US dollar/yen has become stuck at a single level – which is 150.
What’s the opposite of central bank policy guidance? We’d call it policy obscurification; and that’s exactly what the Bank of Japan seems to be doing at the moment,...
This week’s BoJ meeting might offer some clues to the longevity of the present 10-year JGB band and hence the longevity of this volatility in the yen.
The Bank of Japan announced a surprise widening of its target band for 10-year JGBs this week, and the yen soared.
Japan has begun FX intervention, but its chances of success could be compromised by the BoJ’s target band for JGB yields.
The Bank of Japan was forced to defend its 0.25% upper limit for 10-year JGB yields. This could be a long fight and already the dollar/yen bulls seem to want to use the...
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