Spot Dollar/Yen has consolidated below 145 after the Japanese Government intervened to buy Yen for the first time since 1998, while Yen rate and basis have been little changed. Going forward an extraordinary session of the Diet is scheduled to convene this month, and we expect the Kishida Administration to announce inflation countermeasures, as well as a second supplementary budget.
In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido discusses the September BoJ meeting, Tankan survey, and his outlook for Yen assets across markets for the month of October. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.
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