The yen against the US dollar exchange rate on Monday has touched the lowest point in New York's trading period.Analysts speculate that this is the result of options to a certain extent, not the result of the intervention of the Japanese authorities in the market.
The yen against the US dollar exchange rate once reached a year low at the year of $ 1 against 151.91 yen, and then suddenly rose to $ 1.21 yen, but then he would vomit most of the increase.The end result is that the yen has almost no change that day.The Japanese yen has fallen by about 13%this year, and it is the worst performance among the Ten Kingdoms Group (G10) currency.
Bannockburn
Global chief market strategist Marc
CHANDLER said: "I suspect that this is the market's self -proposed claim, because people are worried that the Japanese authorities will interfere." He pointed out that about 1.25 billion US dollars of yen options will expire at the level of $ 152 at 1 US dollar on Monday, which may leadThe yen suddenly fluctuated near this critical level.He compared this scene in early October. At that time, the Japanese yen also suddenly strengthened during the New York trading period, which caused a debate about whether the Japanese authorities were involved in the market.
The Fed has adjusted interest rates to the highest level in more than 20 years. This move has promoted the US dollar to strengthen its strength this year, and the Fed still retains the possibility of raising interest rates again.
Driven by the continuous expansion of Japan and the United States, the yen has fallen into a trend of continuous devaluation.Although the Bank of Japan further relaxed the yield curve control (YCC) policy on October 31, it still adheres to its negative interest rate policy. This decision disappoints traders seeking the continuous rebound of the yen.
Since April 2022, Japan's inflation rate has been higher than the 2%target set by the Bank of Japan, which has brought pressure on the normalization of monetary policy to the Bank of Japan.The low volatility of the yen exchange rate also encourages the so -called first -called metacipable transactions.This is a strategy to raise yen funds and sell to buy high -yield currency, and another factor that causes the yen to be pressed.
