Yen’s Slump to Past 160 Is Function of Fundamentals, BofA Says
Claudio Piron, co-head of Asia foreign exchange and rates strategy at BofA Securities, says the weakness in the Japanese yen, which dropped as much as 1.2% to 160.17 per dollar on Monday before the move pared, says is “a function of fundamentals in a certain sense.” He speaks on “Bloomberg Markets: Asia.”
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16 Comments
It simply means that Japan has to reevaluate its financial relationship with the US, which is like a parasite
EV demand/outlook plummeting; how do you compete with a Chinese made EV(as low as $11k). So many Tesla owners are upside down on their cars…. Not easy to shake off demand/ pricing downward spiral. A cheaper TESLA EV would hurt margins more. Conversely, try to buy a Toyota hybrid today—u can’t…all sold out.
The Japanese do not understand the word. They are inept. They need instruction. They can't think for themselves. Their brains are clouded by political alliances. It is past the time to save Japan. The G7 is sinking fast snd collectively.
Japan is getting so cheap US could buy the country
It just means that Chinese investors are buying more US assets, because Chinese are in a long term recession.
What happens when a country blindly follows US 😂
What a stupid lizard man. japan will have to dump its US debt, killing america unless the Fed drops rate by 50%. Remember, Japan is the main holder of Bidens debt, who else did you think was buying the crap
Well they clearly stepped in
155 now
LOL Japan Yen is crashing due to the high US dollar, high US interest rate, high oil price due to the Ukraine war and the bad relationship between Biden and MBS as well as Biden and Putin. But keep listening to these "experts". That is what you are supposed to do as sheep.
If you can't raise rates maybe you need to sell assets… UST?
I wonder how the Japanese in non-exporting roles must be feeling. In 2011 the yen was at 76 and in 13 years, they've lost half the value of their money vs the US at least. Even worse if you compare it with the other safe haven currency, the CHF.
Wait, none of these guys predicted the yen would fall so much and now it's all because of 'fundamentals'? What a waste of time….
Japan's exports should grow with a lower currency valuation. Japan's stock market index valuations are rising but from inflation being reflected in stock valuations but increased exports may help in the future.
It is currently a period for driving out foreign capital from within Japan and nurturing export companies. Once structural reforms are completed, Japan will recover beyond its previous state. Since Japan holds the world’s largest net foreign assets, there is no risk of bankruptcy due to a weaker yen.
Need to get the Brits out of Economics.