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Japanese Yen

A Review Of FX Trade Recommendations

In this report, we review our FX trade recommendations with suggestions on how to position for the next few months.

Foreign Exchange Strategy by Chester Ntonifor
Sell EUR/JPY
Earlier this week, EUR/JPY closed at a fresh 15-year high, bringing its year-to-date gain to 14%, before losing some ground over the subsequent two days. To the extent that the recent increase in global bond yields continues to encourage carry trades, it has…
Daily Insights
The Inflation Genie In Japan
According to BCA Research’s Foreign Exchange Strategy and Global Investment Strategy services, most indications of Japanese inflation are pointing to upside surprises. This will boost interest-rate differentials in favor of the yen. Core-core CPI came…
Daily Insights
The Case For Japan
Special Report

In this special report, we discuss whether the economic conditions necessary for a stronger yen (and higher JGB yields) will materialize over the next 12-to-18 months.

Foreign Exchange Strategy, Global Fixed Income Strategy, Global Investment Strategy by Melanie Kermadjian, Chester Ntonifor
The Case For Japan

In this special report, we discuss whether the economic conditions necessary for a stronger yen (and higher JGB yields) will materialize over the next 12-to-18 months.

Foreign Exchange Strategy by Melanie Kermadjian, Chester Ntonifor
Japanese GDP Reaches Escape Velocity
Japanese real GDP grew at an annualized pace of 6% year-on-year in Q2. Reading the tea leaves from the release, public investment rose by 5% quarter-on-quarter annualized, while residential investment jumped by a whopping 7.7%. The big takeaway, however, was…
Daily Insights
The US Dollar Is Vulnerable To A Structural Decline
BCA Research’s Bank Credit Analyst service recently featured currency valuation models developed by our Foreign Exchange Strategy service. According to these models, the US dollar is extremely overvalued and thus vulnerable to a structural decline. When…
Daily Insights
Month-In-Review: The Dollar, The Economy, And Central Banks

The DXY will continue to have near-term upside, as economic growth holds up in the US, while it deteriorates in other parts of the world. Remain constructive on the DXY at current levels, but pivot to a short position on evidence US growth is boosting the rest of the world.

Foreign Exchange Strategy by Chester Ntonifor
Too Early To Call An End To The Fed’s Tightening Cycle

The US is not out of the woods when it comes to inflation, which means that it is too early to conclude that the Fed can stop raising rates. Any further increase in inflation risk would prompt us to turn more cautious on stocks.

Global Investment Strategy by Peter Berezin
BOJ: Pressure To Tighten?
The Japanese yen slid by 2.1% vis-à-vis the US dollar last week, reversing the prior week’s rally. This latest bout of weakness comes on the back of speculation that the Bank of Japan will keep policy unchanged at its Friday meeting. On the one hand, both…
Daily Insights

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