Getting a number of emails from Japanese firms which are girding for The Ten Consecutive Days Off (weekend, workweek, weekend, Monday) as if it will be a societal calamity. (Golden Week, an annual observance, is slightly longer this year due to a combination of factors.)
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I mean yes the proverbial Watanabe-san will probably pull her liquidity but that is one of the world’s most important currency pairs which has a) deep, deep fundamental demand in both directions daily and b) practically every institutional counterparty in world happy to step in.
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The fact that this will not affect currency exchange in no way implies that banks won't use this as an excuse to encourage customers to BUY USD NOW.
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Ahh you might be right; cynicism about their motivations is a much more parsimonious explanation here.
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Are the ATMs still only open during work hours?
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Yen moved from 109 to 104 on Jan 2 due (presumably) to thin market activity.Not an unreasonable thing to flag imo, given how many people are in the currency markets.
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