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☆ Japanese Yen will strengthen in 2025 against the dollar as BOJ normalizes interest rate: Strategist
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapanese Yen will strengthen in 2025 against the dollar as BOJ normalizes interest rate: StrategistRobert Savage of BNY discusses the outlook for Japanese Yen in 2025 and FOMC meeting in December.

Persons: Robert Savage, BNY Organizations: Yen

☆ Dollar sitting pretty, yen bears wary of Bank of Japan hawks
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +3 min

Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Markets imply around a 55% chance of a quarter-point rate hike to 0.5% when the BOJ meets on Dec. 19. Against a basket of currencies the dollar held at 106.730, having touched a one-year top of 107.07 on Friday. The rally has coincided with a savage swing in 10-year Treasury yields, which have climbed 70 basis points since the start of October, fuelling a 5.4% rise in the U.S. dollar index . Analysts generally assume Trump's touted policies of tariffs, reduced immigration and debt-funded tax cuts will be inflationary, so limiting the scope for further rate cuts by the Federal Reserve.

Persons: Kazuo Ueda, Ueda, Donald Trump's, Katsunobu Kato, Jonas Goltermann, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent Organizations: Bank of Japan, U.S, Japanese Finance, Capital Economics, Trump, Federal Reserve, Central Bankers Locations: U.S, Japan, Canada

☆ Japan GDP expands by 0.3% in third quarter, snapping two quarters of year-on-year declines
▼ + stars: | 2024-11-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Japan's third-quarter real gross domestic product expanded 0.3% year on year, snapping two straight quarters of year-on-year decline, according to government data released Friday. The GDP reading marked a reversal from the revised 1.1% decline seen in the second quarter. The data comes against the backdrop of the Bank of Japan raising rates from 0.1% to 0.25% in July — its highest level since 2008. On a quarter-on-quarter basis, GDP rose 0.2%, in line with Reuters poll estimates, but lower than the 0.5% growth in the second quarter. On an annualized basis, the economy expanded 0.9%, beating estimates of a 0.7% expansion.

Organizations: Bank of Locations: Bank of Japan

☆ SoftBank posts blowout quarterly gains at Vision Fund tech arm
▼ + stars: | 2024-11-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

The broader Vision Fund segment as a whole, which also factors in non-investment performance such as administrative expenses and gains and losses attributable to third-party investors, reported a gain of 373.1 billion yen. It had declared a loss of 204.3 billion yen in the company's first fiscal quarter. The Vision Fund has been cashing in on the success of the September 2023 listing of smartphone chip designer Arm Holdings , in which it owns a sweeping majority stake of around 90%. The group's print benefitted from investment gains of 1.28 trillion yen on shares of Chinese retail giant Alibaba and of 566.2 billion yen on stock of T-Mobile. On Tuesday, it said it had repurchased a cumulative 153.8 billion yen in shares by the end of the second quarter.

Persons: Toru Hanai, Didi, Son, Elliott Organizations: SoftBank Corp, SoftBank Group Corp, Bloomberg, Getty, Vision Fund, Arm Holdings, Nvidia, Yahoo, SoftBank, Mobile, Elliott Management, CNBC, Barclays Locations: Tokyo, Japan, Norwegian, Mobile . Tokyo, SoftBank

☆ BOJ may be 'cornered' into raising rates: Mizuho Securities strategist
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ may be 'cornered' into raising rates if yen depreciates quickly after Trump victory: MizuhoShoki Omori, chief Japan desk strategist at Mizuho Securities, says if the yen starts to hit the 158-160 level, the Bank of Japan may be forced to raise rates earlier than it intended.

Persons: Omori Organizations: Trump, Mizuho, Mizuho Securities, Bank of Japan Locations: Japan

☆ Asia-Pacific markets poised to climb after Fed rate cut; China's NPC in focus
▼ + stars: | 2024-11-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

People visit a riverside in front of the Lujiazui financial district, during the National People's Congress (NPC) in Shanghai, China, March 7, 2023. Aly Song | ReutersAsia-Pacific markets were set to climb on Tuesday, after the U.S. Federal Reserve cut interest rates by 25 basis points and major U.S. indexes continued their postelection rally. In Japan, the country will be releasing spending data for September, which will offer clues to the policy path ahead for the Bank of Japan. Strong spending data would support the case for the BOJ to raise rates, and vice versa. If stocks follow futures, the Hong Kong index will hit its highest level in about a month.

Persons: Aly Song, Australia's Organizations: National People's Congress, Reuters, U.S . Federal Reserve, China's National People Congress, Bank of Japan, Nikkei Locations: Shanghai, China, Reuters Asia, Pacific, U.S, Asia, Japan, Chicago, Osaka, Hong Kong

☆ Dollar steady as investors eye U.S. jobs report, election
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: +3 min

The dollar steadied against major peers on Friday, as investors awaited the U.S. jobs report to confirm economic resiliency heading into the Federal Reserve's monetary policy meeting and a close-call U.S. presidential election next week. The dollar steadied against major peers on Friday, as investors awaited the U.S. jobs report to confirm economic resiliency heading into the Federal Reserve's monetary policy meeting and a close-call U.S. presidential election next week. The U.S. dollar started November off at a lower level after coming under pressure against the yen and euro on Thursday. (Kazuo) Ueda's press conference," Morgan Stanley MUFG economists Takeshi Yamaguchi and Masayuki Inui wrote in a report on Thursday. The Fed's monetary policy decision next week comes just days after the U.S. presidential election on Tuesday.

Persons: Nonfarm, Tapas Strickland, Kazuo, Ueda's, Morgan Stanley, Takeshi Yamaguchi, Masayuki Inui, Sterling, Rachel Reeves, Donald Trump, Kamala Harris, Trump's Organizations: Federal, Bank of Japan, U.S ., Reuters, National Australia Bank, Gov, U.S, Republican, Democratic, Trump, Treasury, Federal Reserve Locations: U.S

☆ Bank of Japan likely to stay course with a rate hike in December or January, analysts say
▼ + stars: | 2024-11-01 | by ( Lin Lin | ) www.cnbc.com time to read: +4 min

After a messy election, the Bank of Japan decided to hold its benchmark policy rate at 0.25%, as expected. These outlook risks highlight that the timing of the next BOJ rate hike could depend heavily on developments overseas, as well as the exchange rate and its impact on the Japanese economy, Otani added. He added that it would surpass the 13 trillion yen ($84.6 billion) allocated in last year's supplementary budget. When Ishiba returns, he is expected to hold an extraordinary Diet session, during which he hopes to pass the supplementary budget plan, according to local news. Then I would probably rule out a rate hike in December, because that would create a lot of uncertainty about the fiscal situation."

Persons: Kazuo Ueda, Stefan Angrick, Angrick, Akira Otani, Goldman Sachs, Otani, Marcel Thieliant, Shigeru Ishiba, Ishibia, Ishiba, Thieliant Organizations: Japan, Bank of Japan, Moody's, Liberal Democratic Party, Asia Pacific, Capital Economics, CNBC, Democratic Party Locations: Tokyo, Japan, Brazil

☆ BOJ paused rate normalization to wait for outcome of the U.S. election
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Japan paused its interest rate normalization to wait for the outcome of the U.S. electionShigeto Nagai of Oxford Economics says the Bank of Japan cannot explicitly state so, but the main concern and reason behind its monetary policy decision is how the U.S. elections might affect the Yen.

Persons: Shigeto Nagai Organizations: Email Bank of Japan, Oxford Economics, Bank of Japan Locations: U.S

☆ Yen under pressure as BOJ keeps rates steady
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: +4 min

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The yen remained under pressure on Thursday as the Bank of Japan kept ultra-low interest rates steady, while the U.S. dollar consolidated ahead of jobs data later this week and the U.S. presidential election next week. The BOJ kept interest rates steady on Thursday and roughly maintained its forecast that inflation will hover near its 2% inflation target in coming years, signaling its readiness to continue rolling back its massive monetary stimulus. Analysts are divided over the prospect of additional interest rate hikes by year-end, putting the focus on BOJ Governor Kazuo Ueda's post-meeting briefing for clues on the pace and timing of further increases. "Any strengthening of the yen at present would likely result from a general weakening of the U.S. dollar if interest rates begin to align," said Sean Teo, a sales trader at Saxo.

Persons: Yen, Kazuo Ueda's, Sean Teo, payrolls, Donald Trump, Kamala Harris, Sterling Organizations: Bank of Japan, U.S ., U.S, Treasury, Saxo, National Statistics, PMI, Westpac, European Central Bank, Australian, Analysts, New Zealand Locations: China, U.S

☆ Moody’s Analytics: Yen weakness could force Bank of Japan to act sooner rather than later
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMoody’s Analytics: Yen weakness could force Bank of Japan to act sooner rather than laterStefan Angrick of Moody's Analytics says gradual economic recovery within the Japanese economy validates a BOJ rate hike come December.

Persons: Stefan Angrick Organizations: Bank of Japan, Analytics

☆ Asia markets set for mixed open ahead of Bank of Japan decision, China factory activity figures
▼ + stars: | 2024-10-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ), speaks during a news conference at the central bank's headquarters in Tokyo, JapanAsia-Pacific markets are set for a mixed open on Thursday as investors look to the Bank of Japan's rate decision, as well as key business activity figures from China. Economists polled by Reuters expect the BOJ will hold rates at 0.25%, although the statement will be parsed for any clues on the timing of its next rate hike. In China, the National Bureau of Statistics is set to release the country's official purchasing managers index numbers for September, with the manufacturing PMI forecast to come in at 49.9, a softer contraction than the 49.8 the month before. Still, that would be the sixth straight month of contraction for the country's manufacturing sector.

Persons: Kazuo Ueda Organizations: Bank of Japan, Bank of, Reuters, National Bureau, Statistics Locations: Tokyo, Japan Asia, Pacific, China

☆ Japan’s government in flux after election gives no party majority
▼ + stars: | 2024-10-28 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +5 min

TOKYO — The makeup of Japan’s future government was in flux on Monday after voters punished Prime Minister Shigeru Ishiba’s scandal-tainted ruling coalition in a weekend election, leaving no party with a clear mandate to lead the world’s fourth-largest economy. The biggest winner of the night, the main opposition Constitutional Democratic Party of Japan (CDPJ), had 148 seats, up from 98 previously, but also still well short of the 233 majority. But days before the vote, a newspaper affiliated with the Japan Communist Party reported that the party had provided campaign funds to branches headed by non-endorsed candidates. “LDP’s payments to branches show utter lack of care for public image,” ran an editorial in the influential Asahi newspaper two days before the election. In one bright spot, a record 73 women were elected into Japan’s male-dominated parliament, surpassing 54 at the 2009 election.

Persons: Shigeru Ishiba’s, “, Ishiba, Komeito, Keiichi Ishii, ”, Tobias Harris, Yoshihiko Noda, Fumio Kishida, Yuichiro Tamaki, Nobuyuki Baba, Rintaro Nishimura, Masakazu Tokura Organizations: U.S, Ishiba’s Liberal Democratic Party, Constitutional Democratic Party of Japan, Japan Foresight, LDP, Japan Communist Party, Asahi, Democratic Party for, People, Japan Innovation Party, DPP, Bank of Japan, Asia, Komeito Locations: TOKYO, China, North Korea, Japan

☆ Markets trying to understand BOJ & yen position post-elections: Strategist
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets trying to understand BOJ & yen position post-elections: StrategistThe Nikkei 225 rockets higher after a surprising defeat for the ruling Liberal Democratic Party. We ask Daniel Gerard from State Street Global Markets what that says about market sentiment, and where it leaves the Bank of Japan and the Japanese yen.

Persons: Daniel Gerard Organizations: Nikkei, Liberal Democratic Party, State Street Global, Bank of Japan

☆ Japan's central bank to remain undeterred on rate hikes despite LDP's electoral shock, analysts say
▼ + stars: | 2024-10-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japan's longtime ruling Liberal Democratic Party may have suffered an election shock, but analysts said that's unlikely to deter the Bank of Japan from its interest rate hike cycle. In Sunday's elections, the LDP lost its majority in Japan's lower house for the first time since 2009. Besides its junior coalition partner Komeito, the LDP will need to work with other parties to form a government. The political turmoil comes ahead of a Bank of Japan meeting this week. Roughly 86% of economists polled by Reuters expect the central bank to leave its rates unchanged when it announces its decision Thursday.

Persons: Kazuo Ueda, Japan's, Komeito, David Boling, CNBC's, they're, Izumi Devalier, Devalier, you've Organizations: Japan, International Monetary Fund, World Bank, Liberal Democratic Party, Bank of Japan, LDP, Eurasia Group, Reuters, Bank of America Locations: Washington , U.S, Japan

☆ Japanese economy is 'weak and sluggish,' former BOJ board member says
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapanese economy is 'weak and sluggish,' former BOJ board member saysSayuri Shirai, a former board member of the Bank of Japan, discusses Japan's currency and economic policies.

Persons: Sayuri Shirai Organizations: Bank of Japan

☆ Pella Funds: BOJ caught between a rock and a hard place
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPella Funds: BOJ caught between a rock and a hard placeSteven Glass from Pella Funds discusses the BOJ's rate path in the aftermath of the Japanese election, saying that it is unlikely they will hike rates to reduce imported inflation due to the current state of the economy.

Persons: Steven Glass Organizations: Pella Funds Locations: Pella

☆ Yen slips as Japan's election result clouds BOJ rate hike prospects
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: +3 min

The yen touched a three-month low on Monday as Japan's ruling coalition lost its parliamentary majority and investors figured that would likely slow future interest rate hikes, while the dollar headed for a monthly gain on rising U.S. yields. On the dollar, the yen hit its weakest since late July at 153.3 in early-morning trade and it touched the same milestone at 165.36 to the euro . That was down from the 279 seats they held previously and marked the coalition's worst result since it briefly lost power in 2009. The U.S. dollar index has climbed 3.6% during October, its sharpest monthly rise since April 2022. The New Zealand dollar traded near a three-month low of $0.5974, down nearly 6% for the month.

Persons: Shigeru Ishiba's, Komeito, Donald Trump, Sterling Organizations: Shigeru Ishiba's Liberal Democratic Party, NHK, Bank of Japan, Nomura, U.S, gilts, Australian, New Zealand Locations: Japan, U.S, Europe, Australia, China

☆ BOJ is unlikely to hike rates this week, given political uncertainty: BofA economist
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ is unlikely to hike rates this week, given political uncertainty: BofA economistIzumi Devalier, head of Japan economics at Bank of America, says "on the other hand, if that political uncertainty causes … sustained yen weakness, it raises upside risks for inflation, which was particularly why they hiked in July," saying "we could still be in track for hikes in January or even December."

Persons: Izumi Devalier Organizations: Bank of America Locations: Japan

☆ Yen wobbles, vulnerable to political reverberations
▼ + stars: | 2024-10-25 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen banknotes of various denominations are arranged for a photograph in Tokyo, Japan, on July 22, 2015. The yen was last 0.1% lower at 152 per dollar and was looking at a 1.5% loss for the week. The yen has fallen roughly 5.5% for the month thus far, setting it up for its worst monthly decline since April 2022. Against the dollar, the euro last bought $1.08225, some distance away from its low of $1.076125 hit earlier this week. The dollar index last ticked up 0.04% to 104.09, after having scaled a roughly three-month high of 104.57 earlier in the week.

Persons: Ray Attrill, Katsunobu Kato, Janet Yellen, Donald Trump, Nick Rees, Sterling Organizations: of Japan's, Treasury, Liberal Democratic Party, LDP, National Australia Bank, country's Finance, FX, Monex, New Zealand Locations: Tokyo, Japan, Japanese, Germany —

☆ Dollar holds on to 7-week highs as traders consider U.S. rates outlook
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +3 min

The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment. Traders have drastically shifted their monetary easing expectations from the Federal Reserve this year. That has kept the dollar on the front foot and surging to a multi-week high against the euro, sterling and the yen. The New Zealand dollar was 0.3% higher at $0.6144 ahead of the monetary policy decision on Wednesday. A majority of economists in a Reuters poll last week said the Reserve Bank of New Zealand will cut interest rate by 50 basis points.

Persons: Kieran Williams, Louis, Alberto Musalem, Shigeru Ishiba Organizations: Federal Reserve, Asia FX, InTouch, Reserve Bank of St, Treasury, Bank of, New Zealand, Reserve Bank of New Locations: Middle East, Asia, China, Bank of Japan, Reserve Bank of New Zealand

☆ BOJ unlikely to hike before January: PineBridge Investments
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ unlikely to hike before January: PineBridge InvestmentsTadashi Matsukawa of Pinebridge Investments says the BOJ is likely still staying tuned to US data and the Fed before it decides on when it will hike rates next year – but he rules out any change in monetary policy in 2024.

Persons: Tadashi Matsukawa Organizations: PineBridge, Pinebridge Investments

☆ Nomura: Japan economy still doing well, foresee BoJ December rate hike
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNomura: Japan economy still doing well, foresee BoJ December rate hikeYujiro Goto of Nomura expects the dollar-yen cross to trade between 140 and 145 as concerns over new Japanese Prime Minister Shigeru Ishiba's policies dissipates. Japanese businesses remain resilient, paving the way for a potential rate hike by the Bank of Japan in December 2024.

Persons: Goto, Nomura, Shigeru Organizations: Email Nomura, Bank of Japan Locations: Japan

☆ Japan still expected to stick to hiking cycle despite PM Ishiba's dovish turn
▼ + stars: | 2024-10-02 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Despite dovish comments from Japanese Prime Minister Shigeru Ishiba leading to a sharp plunge in the yen , market analysts aren't budging from their Bank of Japan policy expectations for the longer term. The yen slid to as weak as 147.15 against the U.S. dollar on Wednesday, after Ishiba told reporters that the current economic climate does not require an additional rate increase. The prime minister's comments marked a drastic change in tone compared with the messaging on his recent campaign trail. On Thursday morning, BOJ board member Asahi Noguchi said that the central bank should continue its accommodative monetary policy for the time being. He noted that it will take a while to change the public's perception that prices will not increase significantly in the future.

Persons: Shigeru Ishiba, aren't budging, Ishiba, Kazuo Ueda —, Abe Shinzo's, Stefan Angrick, Angrick, Asahi Noguchi Organizations: Bank of, U.S, Bank of Japan, Liberal Democratic Party, Moody's, CNBC Locations: Bank of Japan

☆ Japan's next prime minister is a career dissenter, but experts doubt he can govern as one
▼ + stars: | 2024-10-01 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Shigeru Ishiba, the man set to become the next leader of Japan, has made a career as a political outsider and opponent of party orthodoxy. However, some experts doubt that the former defense minister will manage to govern as such. The election ultimately came down to a runoff in which Ishiba defeated economic security minister Sanae Takaichi, who presented herself as the more Abenomics-aligned candidate. Japan's parliament is expected to formally vote Ishiba into the role Tuesday. He also reportedly suggested he would follow Prime Minister Fumio Kishida's approach of trying to pull Japan out of years of deflationary pressures.

Persons: Shigeru Ishiba, Shinzo Abe, Abe, Tobias Harris, Ishiba, Sanae Takaichi, he's, Sayuri Shirai, Takaichi, there's, Fumio, Shirai Organizations: Liberal Democratic Party, Bank of, LDP, Japan Foresight, Keio University Locations: Tokyo, Japan, Abenomics

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