abrdn is an Asset Management firm. Funny spelling, short for ‘a burden’ I think, but could be wrong.
We see prime minister Ishiba’s appointment as a positive. Endorsement of the Bank of Japan’s (BoJ) policy normalisation is a key benefit for markets, in addition to a pro competition and reduced fiscal stance.
“Together, this should support the yen and enable a continued modest shift higher in front end JGB yields. As ever, political support remains the risk, and we are mindful of the significant effort required to regain the public’s trust following the slump in LDP approval under prime minister Kishida.
Of course politics isn’t the only input into the yen. Fed developments overnight helped cut the legs out from it:
Forexlive Americas FX news wrap 30 Sep:Fed Powell indicates there should be 2 cuts in 2024
This article was written by Eamonn Sheridan at www.forexlive.com.
