17 Dec 2014
Japanese retail investors’ preference for USD remains strong – Nomura
FXStreet (Barcelona) - According to Yujiro Goto, Research Analyst at Nomura, November experienced profit-taking in the toshin markets with retail investors selling $ 0.2bn worth of USD, but the increase to $18.8bn in USD exposure indicates that the preference for USD remains strong.
Key Quotes
“Retail investors also sold foreign currencies via currency selection-type toshins in November, according to Lipper Japan. They bought JPY65bn ($0.5bn) of currency selection-type toshins in November (Figure 2). The outstanding amount of currency selection-type toshins also increased to JPY11680bn ($99bn), thanks to valuation effects.”
“Retail investors sold most of the major currencies via currency selection-type toshins. They sold JPY28bn ($0.2bn) of USD in November, for the first time since September 2009. The outstanding of USD exposure held via currency selection-type toshins increased to JPY2230bn ($18.8bn), the biggest exposure ever though. Even though they took profits, retail investors‟ preference for USD remains strong.“
“They sold AUD for the first time in 14 months, but the amount of net selling was small (JPY3bn or $25mn). Retail investors continued to sell BRL via currency selection-type toshins, for the 17th month in a row.”
Key Quotes
“Retail investors also sold foreign currencies via currency selection-type toshins in November, according to Lipper Japan. They bought JPY65bn ($0.5bn) of currency selection-type toshins in November (Figure 2). The outstanding amount of currency selection-type toshins also increased to JPY11680bn ($99bn), thanks to valuation effects.”
“Retail investors sold most of the major currencies via currency selection-type toshins. They sold JPY28bn ($0.2bn) of USD in November, for the first time since September 2009. The outstanding of USD exposure held via currency selection-type toshins increased to JPY2230bn ($18.8bn), the biggest exposure ever though. Even though they took profits, retail investors‟ preference for USD remains strong.“
“They sold AUD for the first time in 14 months, but the amount of net selling was small (JPY3bn or $25mn). Retail investors continued to sell BRL via currency selection-type toshins, for the 17th month in a row.”