$BERA — Market Update 📊
JPY Stabilizes Amid Political Shift — DBS
Price: 0.647 (+1.41%)
Philip Wei of DBS Research Group notes that the Japanese yen, previously Asia’s worst-performing currency, has stabilized following Prime Minister Sanae Takaichi’s landslide victory in the snap election. Markets may have overestimated the risks of Japanese government bonds while underestimating fiscal stimulus effects on re-inflation. Expectations of a Bank of Japan rate hike in April versus a Fed cut in June also support a steadier yen outlook.
The USD/JPY pair fell from the top of its three-year range (160–140) after Takaichi’s win. Japan’s major banks are reportedly ready to increase holdings of government bonds, and markets are factoring in the upcoming monetary policy moves.
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