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Japan concerned about the depreciation of the yen is limited? 【Record・column]

*09:00JST in Japan concerns the depreciation of the yen is limited? 【Record・column] Over the years safe, currency and been a circle of standing position and pressure. In Japan, a new type of corona virus spread from the concern, if the yen further but it is not. However, glowing to the American presidential election of preliminary chosen by it is avoided, it is a possibility.

Dollar・yen is 2 months from 19 to 20 110 yen 30 sen on out, it will stretch to 112 yen 20 銭台 also emerged. The Abe administration is”buying dollars”and a description, as cross yen as well as the value of the movement was for yen selling is obvious. Then the rice significant investors receive dollar 109 yen pushed back, and the lower the reluctance by….. even Ahead of the yen selling pressure is temporary, whether in the easily determine the To situation.

Yen is a safe currency, and the positioning of North Korean missile launches of the geopolitical risk to receive it also. Conversely, Japanese stocks such as preferred factor to occur, and the yen selling is a strong tendency. That is,the depreciation of the yen on export advantage and reason in the Japanese stock market factors and it is only them. However, recently in Japan prices are in yen appreciation is assumed the most progress,not necessarily in that equation it is not.

Of course, Japan has ample foreign assets, so if you sold yen in exchange for you can, the yen’s slump is assumed you cannot. And, if so, the recent strong yen, sales in Asia currency depreciation is part of the problem. However, new viruses the problem of starting in Japanese stocks is 30 years out, and that deflation is 20 years that you’re just drawing attention to them for reasons of foreign speculators in the yen sell gimmicks also not unnatural.

On the other hand, the American presidential election of reserve list received a dollar, but the extreme depreciation of the yen to deter,there is a view. Preliminary selection and the yen plunging around and at first glance the relationship is so,the Democratic nomination fray at the head of one out for Bernie Sanders Senator of the trends are key. Sanders says of the campaign is to address disparities and to appeal to the wealthy of increased taxation such as the image for his support of the spread as the market shrinkage will.

The US Federal Reserve Board [the FED]is the last 11 months since the liquidity injection and financing to market stability and the aim of U.S. Treasury Short-Term Securities[T-bill]of the order. This measure is a substantial quantitative easing as the United States,U.S. stocks bull market has further clear. However, in the United States of virus damage in the DJIA, such as the 2 on the final week to significantly cheap to swing for the time being investors continues to buy dollars to retreat let.

Sanders said the first round of the Iowa and the other candidates to the top gave then the advantage of keeping the 3 on 3 days of super・groups to come. This victory will further share sales dollar is inevitable. Of course, Trump the President also remained silent only being, not the FED to cut rates pressure to sell dollars to support it.

Here are a few of the American of the substantial prices, the market Outlook uncertainty has spread. However, in the short term, the dollar is the upper limit of the target 112 yen 40 sen to break out to the upside, even if the depreciation of the yen is limited and only you.

[吉池 Wei]

* They are also author’s personal view is,our view does not represent. 《SK》


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