đ Market consensus: Currency flop and Yen’s three-year decline expected to reverse in 2024
Analysts foresee a strengthening yen as the Bank of Japan exits negative interest rates, diverging from global peers cutting borrowing costs.
Yen
đ The yearâs big yen short set for a dramatic U-turn in 2023
There are optimistic forecasts from some investors for a 2023 Yen turnaround as the hawkish Fed and dovish Bank of Japan swap places.
đ Bank of Japan’s next policy decision could inflict more turmoil on global markets than UK’s recent fracas
If the Bank of Japan decides to shock investors and finally tighten policy, they face the turmoil inflicted on global markets by the UKâs recently-abandoned economic plan – just on a larger scale.
đ Japanese Yen marks 32-year low as BOJ intervention speculation ramps up
The yen has wiped out last monthâs intervention-driven gains despite the government confirming an almost $20 billion spend and unleashing a barrage of warnings to dissuade traders from testing its resolve. Options markets are suggesting the market is bracing for another bout of yen-buying intervention.
Rand leads emerging market weakness – falls most since 2008 on ‘Brexit’
The Rand dropped by the most since 2008 against the dollar and fell to a record against the yen as the UK voted to leave the European Union, rocking markets globally.
Is âFear-mongeringâ new norm? Painted Red as polls point to âBrexitâ victory.
Global markets buckled, as the BBC projected a Brexit victory with most votes counted in Britainâs referendum on membership of the European Union.
Japanese punters losing big again, now backing Sterling like they did Rand
Japanâs retail investors look to have bought the dip in the pound just in time for it to fall off a cliff as polls showed Britons may vote to leave the EU.
Brexit becoming probability – Pound joins Polls in suggesting Leave victory
The pound fell toward an eight-week low as concern the UK will vote to leave the European Union prompted demand for safer assets.
‘Whoops’ – losses mount. Goldman Sachs abandons 5 of 6 ‘trade’ calls 6wks in.
Just six weeks into 2016, New York-based Goldman Sachs has abandoned five of six recommended top trades for the year.
Montalto: Weak Rand skews rate outlook. 75/100bp hike possible.
Last week Peter Attard Montalto sent out a note predicting R19 against the dollar by year end. Now he unpacks what this means for interest rates in the country.