Ruth Carson

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Articles

Japan’s Kato says U.S. Treasury holdings could be negotiation card

1 week ago | japantimes.co.jp | Takashi Umekawa |Yoshiaki Nohara |Ruth Carson

Finance Minister Katsunobu Kato said the country’s U.S. Treasury holdings could be a card in its trade talks with the Washington, referring to the largest stockpile of U.S. debt held by a foreign nation. "It does exist as a card,” said Kato, speaking on a TV Tokyo program Friday, when asked if Japan’s stance of not selling holdings could be a negotiation tool.
Embattled yen still popular haven amid U.S. election uncertainty

Oct 28, 2024 | japantimes.co.jp | Ruth Carson |Masaki Kondo

For all the weakness in the yen this year, history shows that Japan’s currency is still in the running to be a surprise haven for investors seeking shelter from the U.S. presidential election. Japan’s currency has beaten the greenback, Swiss franc, gold, Treasuries and euro — among the most popular safe assets — ahead of past elections, data shows. In the run-up to the Nov.
Hedge funds warming to yen caught out by biggest drop in 15 years

Oct 7, 2024 | japantimes.co.jp | Anton Delgado |Kathleen Benoza |Ruth Carson |Mia Glass

Hedge funds turned bullish on the yen just before dovish comments by Japan’s new prime minister and a robust U.S. jobs report helped spark the worst week for Japan’s currency since late 2009. Speculative investors flipped to a net long position on the yen for the first time since mid-August, Commodity Futures Trading Commission data for the week to Oct. 1 shows. The buying came right before Prime Minister Shigeru Ishiba said the nation wasn’t ready for further interest rate hikes.
Yen strengthens beyond ¥140 per dollar for first time since 2023

Sep 16, 2024 | japantimes.co.jp | Alex Martin |Nithin Coca |Mia Glass |Ruth Carson

The yen advanced past the key psychological level of ¥140 against the dollar as the Japanese currency extended its rally from the weakest point in nearly 38 years in July. It appreciated as much as 0.6% versus the dollar to ¥139.96 on Monday, its strongest level since July 2023. The yen has been the best-performing Group-of-10 currency this quarter, with a 15% gain as investors position for a further narrowing of the interest-rate gap between the U.S. and Japan.
Big-name investors still betting on further BOJ rate hikes

Aug 20, 2024 | japantimes.co.jp | Naomi Tajitsu |Ruth Carson

A handful of big-name investors are still betting on more interest rate hikes in Japan in the coming months, even after a sharp decline in market pricing for more tightening this year. Vanguard, the world’s No. 2 asset manager, has doubled down on its short position in Japanese government bonds as it still sees the possibility that the central bank can deliver an additional 50 basis points of rate hikes by December.
JPMorgan Asset gameplans for risk BOJ hikes are done this year

Aug 9, 2024 | japantimes.co.jp | Ruth Carson |Alice Gledhill

The Bank of Japan will avoid raising interest rates again anytime soon, with further tightening likely dependent on the fate of the U.S. economy, according to the head of global rates at JPMorgan Asset Management. "There’s a path for the Bank of Japan to move again actually, but that’s the path where the Federal Reserve cuts and they do manage to stabilize the U.S. economy,” said Seamus Mac Gorain at the firm, which oversees $3.3 trillion in assets.
BOJ probes website crash that blocked traders before decision

Jul 31, 2024 | japantimes.co.jp | Takahiko Hyuga |Ruth Carson |Katia Dmitrieva

The Bank of Japan is investigating an issue with its website that prevented some market participants from accessing the central bank’s closely watched rate-hike announcement on Wednesday.
‘Crazy’ yen rally is at risk of shattering as soon as Wednesday

Jul 26, 2024 | japantimes.co.jp | Ruth Carson |Winnie Hsu |Masaki Kondo

Investors have fallen over each other in recent weeks to buy the yen on bets that interest rates are finally about to tip in Japan’s favor. They face a moment of truth as soon as Wednesday. The currency has climbed roughly 5% against the dollar since it began surging on July 11, a move that was amplified by suspected market intervention from Japanese authorities.
Popularity of yen 'carry trade' may dent impact of BOJ rate rises

May 27, 2024 | japantimes.co.jp | David Finnerty |Ruth Carson

Rising interest rates in Japan will do little to rescue the beleaguered yen as long as there’s demand for one of the most lucrative bets in foreign exchange, traders say. The yen remains one of the hottest macro assets to sell as part of so-called carry trades — a strategy that involves borrowing Japan’s currency for almost nothing, to buy dollars and earn more than 5%.
U.S. dollar’s extended reign delivers stark wake-up call to markets

Apr 22, 2024 | japantimes.co.jp | Ruth Carson |Naomi Tajitsu |Carter Johnson |Tania Chen

The world’s financial markets are encountering a force they didn’t bet on for 2024: A strong dollar is back and looks set to stay. Having entered the year predicting the greenback would decline, investors have been forced into a rethink by a red-hot U.S. economy and sticky inflation requiring the Federal Reserve to hold off cutting interest rates.