এখন থেকে আমরা Elev8
আমরা শুধুমাত্র একটি ব্রোকার নই। আমরা একটি সর্বাত্মক ট্রেডিং ইকোসিস্টেম—বিশ্লেষণ, ট্রেড, এবং প্রবৃদ্ধির জন্য আপনার যা কিছু প্রয়োজন তা এক জায়গায়। আপনার ট্রেডিং উন্নত করতে প্রস্তুত?
ট্রেডিং এর খবর
8 Feb 2013
Forex Flash: What if USD/JPY rally only a 25% discount of Japan's policy succeeding? - HSBC
As HSBC notes, the OECD measures of purchasing power parity place “fair value” for USD/JPY at 105, thus "under a hyper-successful reflation strategy, one would expect the JPY to be considerably undervalued not overvalued, say a level like 120 on USD/JPY" HSBC strategists note.
The bank brings up a theory which "paints the move above 90 in a different light..." they say, as "the market may simply be attaching a 25% probability to an overly successful reflation strategy, one that would see USD-JPY move from 80 to 120."
"We saw the market apply a similar approach during the euro crisis where spot would reflect a varying probability of the tail risk of euro break-up. But in Europe, the FX market was attaching a probability to policy failure, in Japan they are attaching a probability to excess success" HSBC concludes.
The bank brings up a theory which "paints the move above 90 in a different light..." they say, as "the market may simply be attaching a 25% probability to an overly successful reflation strategy, one that would see USD-JPY move from 80 to 120."
"We saw the market apply a similar approach during the euro crisis where spot would reflect a varying probability of the tail risk of euro break-up. But in Europe, the FX market was attaching a probability to policy failure, in Japan they are attaching a probability to excess success" HSBC concludes.