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Nomura Securities: It is the right time to short the yen cross.
Jin10 data March 24, the global forex strategy department of Nomura Securities stated in a recent research report that under the current environment, short positions in yen cross pairs may offer more attractive trading opportunities. The CHF/JPY short positions “look particularly appealing, especially now that it finally offers a positive interest rate differential, as the Swiss Central Bank’s policy rate is now lower than that of the Bank of Japan.” In addition, Nomura Securities continues to recommend shorting GBP/JPY, as the UK seems unlikely to introduce a fiscal plan similar to Germany, which means it is unlikely that the UK will announce large-scale fiscal spending in next week’s spring budget.