Nanto Sapporo Brokerage say Japanese yen gains two-week high after bets on scaled back policy stimulus

Stocks and Financial Services Press Releases Tuesday July 24, 2018 12:39
TOKYO--24 Jul--PRNewswire/InfoQuest
Nanto Sapporo Brokerage say the yen gained a two-week high against the euro on Monday after the Japanese central bank reported it was considering scaling back its huge monetary stimulus.
Comments by U.S. President Donald Trump on Friday regarding the weak dollar led to a further unwinding of short yen positions.

"Headlines regarding the central bank's plan to adjust its policy stimulus is causing the current big yen move but unless solid steps are in places, the yen's current strength may reduce" commented Miyazato Eiichi, Chief Financial Officer from Nanto Sapporo Brokerage.

With the scheduled monetary policy meeting towards the end of July looming, the Bank of Japan has begun an unusually active discussion, with changes to its interest-rate targets and stock-buying techniques a main focus.

The majority of the Bank of Japan's current policy, which was adopted in 2016 consists of negative short-term interest rates, buying stock through exchange traded funds (EFTs) and keeping the 10-year yield around zero percent.

Against the euro the yen rallied half a percent to 130.00, its highest since July. It saw a similar rise against sterling 145.85 and the dollar at 110.00.
With 60 thousand contracts in the latest weekly data, almost double the amount of short bets against the yen, some traders foresee more growth for the yen in the weeks ahead.

CNBC reported on Friday that President Trump was concerned that the Federal Reserve will increase interest rates a further two times this year. Also mentioning the Fed's current policies and strong dollar could also hurt the economy.

About Nanto Sapporo Brokerage

Nanto Sapporo Brokerage is an independent investment boutique and private wealth management concern with a firm commitment to pushing the envelope in terms of our expertise and delivery of service to our clients. For additional information visit www.nsbrokerage.com

Media Contact: Sekino Ieyasu, pr@nsbrokerage.com , +81 3 4578 0234
Logo - https://mma.prnewswire.com/media/721676/Nanto_Sapporo.jpg

Latest Press Release

Photo Release: KBank joins hands with partners to create K PARK, a new form of lifestyle space for suburban communities

KBank unveils the first K PARK on Hathairat 33 Road by teaming up with three business giants, namely, PTT (PTT gas station and Cafe Amazon), SCG Express and Amarin Printing and Publishing to open a new lifestyle space which offers delightful experiences...

CIMB Group Chairman to Step Down by 31 December 2018

CIMB Group ("CIMB" or "the Group") today announced that its Chairman, Dato' Sri Nazir Razak, will step down from his position as Group Chairman, and all other positions within the CIMB group of companies by 31 December 2018. The CIMB Board of Directors...

KTC jointly celebrates Mo-Mo-Paradises 10th anniversary by launching Dine with chances to win an exclusive trip to Japan! with China Airlines.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, jointly with Mr. Surawech Telan, Managing Director, Noble Restaurant Company Limited, owner of "Mo-Mo-Paradise," a dark brown broth...

Photo Release: AOT entrusts KTAM to manage provident fund for 3 years

Mr.Wichai Bunyu (2nd left), the President of The Airports Of Thailand PCL. Employee's Registered Provident Fund (AOT) and Mr. Visit Balee (1st right), Fund committee recently held a Provident Fund management contract signing ceremony with Mr. Veera...

INDORAMA VENTURES AND LOOP INDUSTRIES JV TO INTRODUCE NEW ERA IN PET AND POLYESTER RECYCLING

Indorama Ventures' world-class manufacturing and Loop's state-of-the-art recycling technology combined to invest in multi-billion dollar sustainable PET resin and polyester market opportunity Demand for supply of sustainable PET sees explosive growth...

Related Topics