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Thread: Japanese Yen

  1. #171
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    Japan’s top trading houses see no recovery on the horizon for the commodities crash that forced some of the first-ever annual losses by the champions of the nation’s economy, accelerating their shift away from energy and raw materials.
    The country’s five biggest traders all expect further declines in oil, which has already slumped about 60 percent over the past two years. Mitsubishi Corp. sees prices sliding 19 percent in the current fiscal year, while rival Mitsui & Co. sees a 15 percent decline. Itochu Corp. sees Brent, the global benchmark, slumping almost 29 percent.

    source_http://www.bloomberg.com/news/articles/2016-05-10/japan-s-biggest-traders-see-no-commodities-recovery-in-sight

  2. #172
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    The yen headed for its second straight weekly decline versus the dollar on renewed speculation monetary policy in Japan and the U.S. will diverge further, driven by their economic prospects.
    Japan’s currency has slumped about 1.5 percent this week, the worst performer among 16 major peers, as Bank of Japan Governor Haruhiko Kuroda reiterated Friday there is room to ease monetary policy further. Meanwhile, two regional Federal Reserve presidents made the case for higher interest rates in the U.S. The yen pared some of its losses Friday as Asian and European stocks dropped, boosting demand for the currency as a haven.

    source_http://www.bloomberg.com/news/articles/2016-05-13/yen-heads-for-two-week-slump-as-policy-divergence-bets-resurface

  3. #173
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    Mitsubishi UFJ Financial Group Inc. sees full-year profit falling 11 percent as negative interest rates squeeze loan profitability and bad-loan costs increase.
    Japan’s largest bank is targeting net income of 850 billion yen ($7.8 billion) in the year ending March 2017, it said in a statement Monday. That is lower than the 982 billion-yen average estimate of nine analysts surveyed by Bloomberg. Profit fell 8 percent to 951.4 billion yen last fiscal year, said Tokyo-based MUFG, which also announced plans to buy back shares.
    Chief Executive Officer Nobuyuki Hirano has been among the biggest critics of the Bank of Japan’s negative-rate policy, saying in a speech last month that it has caused anxiety among households and companies and will weaken lenders by narrowing net interest margins that are already among the world’s lowest. MUFG’s outlook is also hampered by the risk of soured loans to the energy sector even as oil prices recover from a two-year rout.
    “The severe environment with ultra-low interest rates is continuing under the negative interest-rate policy,’’ Hirano, 64, said at a briefing in Tokyo. “Credit costs rose, both for specific customers and in the energy sector.’’

    source_http://www.bloomberg.com/news/articles/2016-05-16/mitsubishi-ufj-sees-profit-falling-11-amid-negative-rates

  4. #174
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    Asian equities fell with European and U.S. stock index futures, while commodities slumped after minutes of the Federal Reserve’s last meeting put the prospect of a June interest-rate hike firmly on the table. A gauge of the dollar’s strength rose, building on its biggest jump in six months.
    The MSCI Asia Pacific Index dropped to a six-week low after the Fed record showed most of its rate-setting officials were in favor of boosting borrowing costs next month should the U.S. economy continue to improve. Currencies in Australia, China and South Korea sank to their weakest levels in more than two months. Crude oil retreated and copper fell to levels last seen in February, while gold and silver slipped to fresh lows for the month. Singapore’s 10-year bonds slid by the most since April after U.S. Treasuries had their biggest losses of the year.

    source_http://www.bloomberg.com/news/articles/2016-05-18/dollar-gains-weigh-on-commodities-as-japan-futures-signal-jump

  5. #175
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    Asian shares rebounded from a seven-week low and futures foreshadowed gains in European stocks after U.S. housing data spurred optimism the world’s largest economy can withstand higher interest rates. Oil rose with copper as the dollar retreated.
    The MSCI Asia Pacific Index climbed by the most in a month. South Korea’s won led gains among major currencies as the Bloomberg Dollar Spot Index fell from a two-month high. The yuan traded near a three-month low after China’s central bank set the weakest reference rate in five years. Crude rallied above $49 a barrel as copper headed for its highest close in a week. The yield on 10-year U.S. Treasuries held near a three-week high, while Greek bonds rose after creditors agreed to release bailout funds.

    source_http://www.bloomberg.com/news/articles/2016-05-24/futures-signal-rebound-in-asia-as-fed-sentiment-turns-oil-jumps

  6. #176
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    Japanese Prime Minister Shinzo Abe failed in his bid to have Group of Seven leaders warn of the risk of a global economic crisis in a communique issued as their summit wraps up Friday in central Japan.
    The final statement declares that G-7 countries "have strengthened the resilience of our economies in order to avoid falling into another crisis."
    Japan had pressed G-7 leaders to note "the risk of the global economy exceeding the normal economic cycle and falling into a crisis if we did not take appropriate policy responses in a timely manner." On Thursday, Abe presented documents to the G-7 indicating there was a danger of the world economy careering into a crisis on the scale of the 2008 Lehman shock.
    Abe has frequently said he would proceed with a planned increase in Japan’s sales tax in April 2017 unless there is an event on the scale of Lehman or a major earthquake. He is expected to announce next week he is deferring the tax rise, Japanese media reported.
    One of the biggest topics at the meeting was China, which is not a member of the G-7. A slowdown in China, alongside a global steel glut, has spurred concerns among developed economies and at times disagreement on how best to spur growth. Abe has advocated greater government spending to back up monetary policy action.

    source_http://www.bloomberg.com/news/articles/2016-05-27/japan-s-abe-fails-in-bid-to-have-g-7-warn-of-global-crisis-risk

  7. #177
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    The yen fell to a one-month low versus the dollar after an aide to Prime Minister Shinzo Abe said Japan needs to delay a sales-tax hike scheduled for next year, underscoring the need for the government to sustain economic growth.
    Japan’s currency was the biggest loser among its developed-nation peers as stalling growth in retail sales increased the likelihood that Prime Minister Shinzo Abe will delay the tax increase. The dollar rose against most of its Group-of-10 counterparts after Federal Reserve Chair Janet Yellen said Friday that higher U.S. interest rates in coming months look “appropriate.”

    source_http://www.bloomberg.com/news/articles/2016-05-29/yen-drops-on-tax-delay-talk-as-market-goes-long-dollar-on-yellen

  8. #178
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    Asian stocks reversed earlier losses and South Korea’s won extended gains as Chinese trade figures added to signs the world’s second-biggest economy is on the mend. European equities declined, while crude oil held above $50 a barrel.
    The MSCI Asia Pacific Index climbed to a six-week high as shares in Shanghai and Hong Kong pared losses after China’s imports rose in yuan terms for the first time since 2014. The Stoxx Europe 600 Index retreated, after rallying in the last session by the most in two weeks. Futures on the S&P 500 were little changed after the benchmark closed within 1 percent of its all-time high. The Bloomberg Dollar Spot Index slipped to a one-month low as the won strengthened versus all 31 major peers. Oil traded near its highest since July 2015 and Japan’s 20-year bond yield sank to a record.

    source_http://www.bloomberg.com/news/articles/2016-06-07/asia-stocks-signal-mixed-open-before-data-as-aussie-holds-rise

  9. #179
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    Traders have cut the odds of the Fed tightening policy at its June 14-15 meeting to zero from 22 percent a day before U.S. jobs data last week showed the smallest increase since 2010. Japan’s currency, which is often sought in times of market turmoil, touched its strongest level in more than three years against the euro as European stocks declined.
    “A weak start for European equities is supporting safe-haven currencies like the yen,” said Lee Hardman, a foreign-exchange strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. in London. “The bigger picture is that the yen is deriving support from a number of sources, including weak global growth and dampened Fed rate-hike expectations.”

    source_http://www.bloomberg.com/news/articles/2016-06-09/yen-touches-strongest-in-a-month-as-stock-slide-spurs-haven-bid

  10. #180
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    The bull run that’s made the yen this year’s best-performing Group-of-10 currency is far from over.
    That’s the view of Bank of Tokyo-Mitsubishi UFJ Ltd., a unit of Japan’s biggest bank. And when its strategists say the yen will advance another 7 percent by the end of December, it’s worth listening -- they were last year’s most accurate forecasters of Japan’s currency among the nation’s lenders.
    By their estimates, the yen’s on course to end the year at a 2 1/2-year high of 100 per dollar. It already gained 12 percent in 2016, defying the majority of analysts, on concern that global growth is flagging. Now, risks are multiplying, including faltering economic data, a U.K. vote on its European Union membership and U.S. presidential polls. It’s a cocktail of woe that only enhances the haven appeal of a currency that’s been buoyed by Japan’s 22 straight months of current-account surpluses.

    source_http://www.bloomberg.com/news/articles/2016-06-09/yen-gains-put-100-per-dollar-in-sight-for-japan-s-biggest-bank

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