External broker reports(aggregated public sources), Mizuho

Mizuho

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External broker reports(aggregated public sources)

FX & Rates

<ul><li>JPY consistently fell against USD through January. There were many factors that contributed to this – the Noto earthquake on January 1 triggered JPY selling due to a sense of national crisis, household JPY selling became a theme with the introduction of the New NISA scheme, and to top it all, U.S. economic indicators put up a strong performance.</li><li>A number of issues have coincided right from the beginning of the year, but the most concerning of them is the focus on household JPY selling, something I have previously expressed concern about in this report.</li><li>As Minister of Finance Shunichi Suzuki has said, the amount involved is not sufficient to determine the JPY rate trend, but the fact is that the forex markets are easily influenced by what is trending, and a trend of household JPY selling does indeed exist, and with its continued promotion as national policy, it seems natural to assume that it has contributed to JPY weakness to some extent. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

JPY consistently fell against USD through January. There were many factors that contributed to this – the Noto earthquake on January 1 triggered JPY selling due to a sense of national crisis, household JPY selling became a theme with the introduction of the New NISA scheme, and to top it all, U.S. economic indicators put up a strong performance.A number of issues have coincided right from the beginning of the year, but the most concerning of them is the focus on household JPY selling, something I have previously expressed concern about in this report.As Minister of Finance Shunichi Suzuki has said, the amount involved is not sufficient to determine the JPY rate trend, but the fact is that the forex markets are easily influenced by what is trending, and a trend of household JPY selling does indeed exist, and with its continued promotion as national policy, it seems natural to assume that it has contributed to JPY weakness to some extent. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

JPY

Forex Medium-Term Outlook(Feb, 2024)