The document discusses the outlook for USD/JPY, emphasizing that it's too early to turn bearish. It highlights Japan's trade deficit closure due to import compression, the role of the current account surplus, and the impact of portfolio flows on Japan's balance of payments. The document also notes the influence of the GPIF and other institutional investors on USD/JPY, suggesting that the currency pair will remain range-bound with high short-term volatility.
documents/vol00010-efta01459702-pdf.pdf
{"title":"FX Blueprint: Forever Young","key_people":["GPIF"],"document_date":"2016-01-12","document_type":"tabular","key_locations":["Japan"],"key_organizations":["Deutsche Bank"]}