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06.07.26 - 09:24
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Goldman Sachs Sees Yen at 165 per Dollar in 12 Months (Bloomberg)
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Kamakshya Trivedi, head of global FX and interest rates at Goldman Sachs, discusses the firm's forecast for the yen which it has revised to 165 per dollar in a year's time from 155. "I think the undervaluation that you're seeing on the yen is really historic," Trivedi tells Bloomberg Television. (Source: Bloomberg)...
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05.07.26 - 22:54
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Japan Bankruptcies Surge To All-Time High As A Result Of Plunging Yen (ZeroHedge)
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Japan Bankruptcies Surge To All-Time High As A Result Of Plunging Yen
In recent months one of the more frequent questions in FX trading has been the relentless collapse in the yen, which recently sank below a 40 year low despite rate differentials stubbornly headed in the opposite direction, and is increasingly flirting with levels which on previous occasions always prompted BOJ intervention.
Among the reasons cited for the chronic weakness of the Japanese currency have been the following three:
Real short-term rates in Japan are negative, which is why Ueda has been slow to hike
There is a growing perception that Japan's PM Takaichi doesn't want a higher rates or a stronger yen. A weak yen certainly helps big JP firms profits (while hurting households) so there is a clear weak yen constituency inside the LDP. Japanese financial institutions are also short the yen generally
JP financial institutions (notably lifer insurers) see the upfront cost of hedging (the nominal ST rate differential...
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