Yen strength still hinges on BOJ hike, not capital repatriation (or intervention!), Goldman says - investingLive
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Yen strength still hinges on BOJ hike, not capital repatriation (or intervention!), Goldman says investingLive
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4 itemsYen 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.
Goldman says Japan's $1 trillion of reserves leaves 'plenty of capacity' for further yen interventions - CNBC
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