Selling the yen remains one of the hottest macro trades after BOJ Gov. Haruhiko Kuroda rammed home the message at the last policy meeting in June that it’s too early to cut back on stimulus.
The former official said the contrast between a hawkish Federal Reserve and the Bank of Japan’s loose monetary policy remains the single biggest driver of the yen’s weakness.
Japan was the epicenter of market drama after the central bank set in motion a four-day buying spree of government bonds last week to stave off a global debt rout.
As the yen slumped to a six-year low against the dollar last week, retail investor net-long aggregate positions in the currency climbed to ¥258 billion — an all-time high.
The yen at ¥100 to the dollar is a tough call for Japan’s banks, mainly because it’s the point where domestic exporters start losing money.
First it was Japan. Then Europe. Now investors are scanning the world for the next outbreak of stagnant inflation and tumbling yields. The malaise of "Japanification" burst into the mainstream this year, leaving in its wake a record amount of negative-yielding debt. Quantitative easing and ...
Singapore is seizing an opportunity measured in milliseconds to win a bigger slice of the world's foreign exchange market, worth $5.1 trillion (¥570 trillion) daily. The Southeast Asian nation is encouraging major foreign exchange operators to build systems in the country to remove the sub-second ...
