DBS Bank: Unwinding carry trades boosts yen

GoldenOctober2024

2024-07-25 03:55:01

Jinshi Data, July 25th, DBS Bank's macro strategist Wei Liang Chang said that due to the risk aversion triggered by the sell-off in technology stocks, the unwinding of Arbitrage trades has boosted the yen, and speculative short positions are still heavy. In contrast to the imminent rate cuts by the Fed and the European Central Bank, Japan may tighten monetary policy next week, deepening the unease about yen shorts. The risk of further strengthening of the yen before the Bank of Japan meeting next week cannot be ignored.

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