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The Bank of Japan’s policy of yield curve control depends on soft global rates and low yields, and this centre will simply not hold. As inflation rises, yields will spike, and the result will be a plunge in the yen. Ultimately, the central bank will resort to QE-style measures, but not before USDJPY hits 150.
Squawk / 11 September 2016 at 15:50 GMT
Chief Economist & CIO / Saxo Bank
Denmark
Sunday Macro

What you need to know:

5.) FX swaps is bid for US$ as foreign banks in US is losing funding through lack of CP (Commercial Paper funding)
1y
asousa27 asousa27
Will this increase the demand for USD?
1y
Steen Jakobsen Steen Jakobsen
It shud yes
1y
Patto Patto
what are these charts: USDJPY and EURUSD basis ?
1y
Pandorra Pandorra
Steen, I guess your charts are very important, bit would you please explain in 'everyday language' what do they mean at all, and how can we use this pics? Tnx
1y
Steen Jakobsen Steen Jakobsen
Basis swap ccy is the Price you need to pay for getting USD instead of your own currency - ie. now Japanese and European banks have plenty of JPY and EUR but needs USD... hence they are willing to pay more for USD. Generally when market/banks needs USD relative to their deposit base it means stronger USD
1y
asousa27 asousa27
Thanks Steen
1y
Market Predator Market Predator
Very nice GlobalMorningCall from Yours, nice conclusion!
1y
Pandorra Pandorra
good call Steen, I understood. please update timely to be in course what's going on.

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