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Thomson Reuters
Apr 19 - 12:12 PM
USD/JPY - Stuck BOJ Leaves USD/JPY At Mercy Of Fed, US Rates
First appeared on eFXplus on Apr 19 - 09:55 AM
  • Next Thur's BOJ will affirm bank's inability to change policy
  • But costs, risks of NIRP, QQE are building nL3N2200YV
  • JPY core/core inflation just 0.4% y/y and unlikely to rise much
  • Banks NIMs crushed, making riskier RE loans nL3N21Z1PM to offset
  • Japanese investors in global hunt for higher yields, take more risk
  • Oct consumption tax hike may not happen, but debt-to-GDP staggering
  • Any BOJ normalization could make govt's borrowing costs untenable
  • US GDP, corp earnings reports to drive US rates, USD/JPY next week

Chart: Click here

Source:
Thomson Reuters IFR Markets

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