The document discusses the sensitivity of the Bank of Japan (BoJ) to an appreciating yen compared to other deflationary factors like falling energy prices. It highlights the BoJ's focus on nominal growth targets and the challenges of managing the yen's exchange rate. The document also covers the US Federal Reserve's influence on USD/JPY rates, the impact of US yields, and market positioning in the yen. It includes data and analysis from Deutsche Bank and Bloomberg Finance LP.
documents/vol00010-efta01459603-pdf.pdf
{"title":"FX Blueprint Forever Young","key_people":["Taisuke Tanaka","Robin Winkler"],"document_date":"2016-01-12","document_type":"other","key_locations":["Tokyo","London"],"key_organizations":["Bank of Japan","Deutsche Bank","Bloomberg Finance LP","Federal Reserve","PBoC"],"reference_numbers":["DB-SDNY-0120122","SDNY_GM_00266306","EFTA01459603"]}