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

Media Contact: Sekino Ieyasu, , +81 3 4578 0234
Logo -

Latest Press Release

SET welcomes restaurant operator Zen Corporation Group on February 20

The Stock Exchange of Thailand (SET) will list Zen Corporation Group pcl – a leading operator of restaurant brands in Thailand – on February 20, under the ticker symbol "ZEN". The company has a market capitalization at its initial public...

Photo Release: EXIM Thailand Holds FX Risk Management Seminar Phase 2 To Promote FX Risk Hedging Tools for SME Exporters in the Northeast

Mr. Chana Boonyachai (center), Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently welcomed Mrs. Thatsanee Tangpattanasiri (right), Director, Northestern Regional Office, Bank of Thailand (BOT), and Mr. Ranon Keowsuddhi...

Frasers Property Thailands Revenue Increased 341% to 2.577 Billion Baht and Net Profit Rose 190% to 684 Million Baht in Q1/2019

Revenue totalled 2.577 billion baht, an increase of 1.993 billion baht or 341% year-on-year, while net profit totalled 684 million baht, a growth of 190% year-on-year. Embarked on a "Total Dimension" strategy to become leading provider of smart...

Photo Release: EXIM Thailand Visits Xayaburi Hydroelectric Power Project

Mr. Nopporn Thepsithar (fifth left), Chairman of the Board of Executive Directors, Export-Import Bank of Thailand (EXIM Thailand) and Dr. Narongchai Akarasanee (center), former Minister of Energy, recently visited Xayaburi Hydroelectric Power Project...

Thailands Promotion of Advanced Technology and Eco-system Development Enables Local Producers to Fly Higher

Thailand has been experiencing a gradual shift from a manufacturing to a high-value manufacturing economy after the country has put all its efforts into promoting the use of advanced technology, science, and innovation in parallel with the development of...

Related Topics