JPY rose, JPY rates declined, and JPY basis tightened in July, reversing their trends of April through June. The BoJ made no changes following the assassination of former Prime Minister Abe just ahead of the Upper House elections. In August, we expect external factors to impact JPY rates and basis during the Obon holidays.
In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido reviews markets in July including the BoJ’s July Monetary Policy Board meeting and discusses potential JPY trading triggers for August. He also shares his views on Dollar/Yen, Yen rate, and Yen basis.
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