Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MARKET INSIGHT
- Japan MoF intervention to prop up the yen for the time since 1998 came as USDJPY cleared 145, with the yen sitting almost 25% weaker to the dollar than its 2019 pre-pandemic average.
- The bulk of that depreciation came in 2022, in a trend seen across Asian currencies, albeit with the yen leading the way lower as US-Japan yield differentials blew out.
- However, from a net foreign asset perspective, Japan stands out with by far the healthiest net foreign assets at 75% GDP as of 2021, next followed by Korea at 40% GDP, which give scope to be drawn upon to help bolster their respective currencies.
- Instead, sticking to this simple metric, declines in THB (small net foreign assets of 10% GDP) plus INR and PHP (net foreign liabilities of 5-10% GDP) stand out as being more exposed to further downside pressures.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok