Can Repatriation Flows Save the Japanese Yen?
From the original
GPIF repatriation flows are similar to FX intervention and will be just as ineffective
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4 itemsForeign exchange intervention cannot save the yen; pension fund repatriation to Japan could become the decisive weapon to halt its depreciation—at the cost of triggering global equity and bond market turmoil. - 富途牛牛
UBS says Japan repatriation flows unlikely to lift yen near-term - Investing.com
Yen strength still hinges on BOJ hike, not capital repatriation (or intervention!), Goldman says
The desk believes that the Japanese yen's trajectory is closely tied to the Bank of Japan's potential rate hike rather than to government policy on capital repatriation. Per the full note from Goldman Sachs, Japanese investors continue to show strong demand for foreign investments, as evidenced by substantial net purchases of foreign bonds. This persistence in offshore investment suggests that mere policy suggestions from Tokyo are insufficient to alter investor behavior significantly. The consensus among banks, particularly Goldman and MUFG, emphasizes that actual yen strengthening requires a tangible shift in monetary policy rather than aspirational capital movement, steering our expectations around the BOJ's next meeting.