The MUFG Global Markets Podcast
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September JPY cross asset outlook and BoJ, fiscal trading triggers for JGBs and JPY basis: The MUFG Global Markets Podcast
USDJPY is through 140. In contrast, JPY rates have risen gradually, JPY cross-currency basis is mixed – tighter in the front end on foreign demand for short-term, while wider in the belly through the long end of the curve – and the Nikkei Average is flat. It would not be unexpected for Japanese exporters to cover USDJPY ahead of the quarter-end, pushing USDJPY even higher.
In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido reviews what was an eventful end of the summer, shares his outlook for September, and discusses the BoJ’s JGB buying plans and the Ministry of Finance’s JGB yield assumptions in its FY23 budget proposal. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.
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