The latest of the Japanese funds to reveal their strategy 27 Oct
- will reduce domestic bonds Oct-March
- plans to maintain holdings of domestic stocks but ready to buy them on dips
- raised holdings of foreign bonds by JPY 1.9trln Apr-Sept
- plans to buy foreign bonds without ccy hedging when USDJPY around 100
- sees USDJPY higher on likely US rate hike in December
Seems like its not only the BOJ and Japanese govt who are hoping the Fed will bail them out.
Meanwhile USDJPY 104.55 finding a few buyers again putting a bid under other core pairs with yen selling prevailing.
Decent size offers awaiting any further rally at 104.80
with the large 105.00 interest still there behind that.
