Trading Floor.com releases a video on the Yen
TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released a video discussing the current strength of the Yen and what impacts it will have on the Japanese economy.
Drop everything and run has been the general strategy for both people in Japan and to a certain extent investors in Japanese stocks, who have been nervously watching from outside since the massive earthquake and tsunami rocked the world’s third-largest economy. The subsequent nuclear power disruptions and resultant crisis have exacerbated the situation into a seek cover mode. In the video Ken Veksler, Senior Manager at Trading Advisory, discusses the current economic situation in Japan.
Firstly, Ken discusses why the Yen has actually strengthened when the rest of the country is in crisis and both local people and investors are running for cover. Traditionally Japan and the Japanese government bonds have always been seen as something of a safe haven in the last 10 to 15 years; therefore it doesn’t come as much of a shock that there is so much interest in the Yen despite the recent event. What Ken does find surprising is the fact that the stock market has fallen and practically crashed, whereas the currency, which is the barometer of the countries health, now seems to be so strong.
Ken also discusses what might happen to the Japanese economy if the crisis continues to get worse. He points out that a strong currency is good for any country but if it continues to rise this could mean exports are more expensive and they may not be a lot of demand or productivity due to the earthquake. However, this strength is unlikely to continue, while Ken doesn’t predict an extreme return in the other direction, he does say the strengthening of the Yen will die down.
Finally, Ken discusses how the Bank of Japan is coping with the current crisis. The Bank of Japan is currently putting liquidity into the market in a bid to show that they are on top of the situation and they are doing their best to keep the Japanese economy in a comfortable place.
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