According to currency analyst RBC Capital Markets, Japanese investors are likely to actively hedge their investments in foreign bonds by means of transactions in the foreign exchange market, so they do not entail negative consequences for the yen. Bears on the yen may have pleased the flow of investments in bonds, as well as the hedge ratio almost reached the level of 0.9 (level 2004) and, hence, the amount of yen buying will decrease. In this case, believe in the RBC Capital Markets, a pair of dollar / yen will fall, not rise. Now a pair traded at 97.10.
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