Economic recovery and an inflation rate close to target should give reason for the Bank of Japan (BoJ) to lift policy rates further. However, the BoJ would need to...
We could be thinking about the yen which has languished across the board for some time in spite of BoJ rate hikes and FX intervention, or the euro which seems to have...
The BoJ almost certainly won’t hike rates again this week, but this need not necessarily rule out another painful carry-trade unwind.
Turmoil in risky assets such as equities might have been sparked by concerns about the US economy but, in reality, we think that the rapid unwinding of yen-funded trades...
At present, there isn’t any official data to confirm MoF/BoJ’s FX intervention, but it looks as if the Ministry of Finance/Bank of Japan intervened to buy the yen again...
Currency volatility has been coming down for some time with one-year implied volatility amongst the G10 currencies just about at its lowest level in around two years....
BoJ could intervene again, but the situation for US dollar/yen now does not appear as precarious as it was when the BoJ intervened back in the autumn of 2022.
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.
At the start of this year, many analysts expected euro/dollar would trade up from its opening level of 1.06 to around 1.10 in mid-year and then on to 1.15 by the...
Fixation with the performance of the US dollar is understandable given the dominance of the greenback in areas such as currency trading, reserve holding, trade invoicing...
There are two developed-country central banks that appear particularly perturbed by the weakness in their currencies: the Bank of Japan and the Riksbank. But what can...
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,...
According to analysts, the fluctuation of the Japanese Yen would undoubtedly damage Vietnam, particularly people receiving Yen income and businesses engaged in...
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.
We spoke about our forecasts for the US dollar this year and where they stood in relation to the market consensus. Today, we want to look at some of what we might...
The Bank of Japan announced a surprise widening of its target band for 10-year JGBs this week, and the yen soared.
The yen has fallen the most of all the developed currencies. However, this currency is expected to recover through 2023.
In addressing this question, we want to look at what surprises could happen next year that boost currencies in a way that we might not be anticipating.
Japan has begun FX intervention, but its chances of success could be compromised by the BoJ’s target band for JGB yields.
How will the intervention of the Bank of Japan be conducted? What impact will it have? And will other central banks join in? These and other questions will be asked...
Many financial analysts doubt if there is any intervention to stop the US dollar from rising.
JPY has been the worst performing G10 currency so far this year in spot terms. It matters that whether this currency will continue uptrending.
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