Societe Generale said the Bank of Japan's sudden policy changes have increased pressure on the country's international investors to hedge their foreign assets, which may push the yen further higher. The yen surged nearly 5% to 130.58 against the dollar on Tuesday.

2025/10/1122:26:35 hotcomm 1410

Société Générale said that the Bank of Japan's sudden policy changes have increased the pressure on the country's international investors to hedge its foreign assets, which may push the yen further higher.

The yen surged nearly 5% to 130.58 against the dollar on Tuesday. Kit Juckes, chief foreign exchange strategist at Societe Generale, said the yen could rise to 125 in January as Japanese fund managers respond to the Bank of Japan's more hawkish stance.

Societe Generale said the Bank of Japan's sudden policy changes have increased pressure on the country's international investors to hedge their foreign assets, which may push the yen further higher. The yen surged nearly 5% to 130.58 against the dollar on Tuesday. - DayDayNews

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"We previously believed that the large fluctuations in USD/JPY were mainly due to changes in Japan's net international investment position and FX hedging ratio," he wrote. There was little pressure to buy the yen in the holiday market. "

Bank of Japan Governor Haruhiko Kuroda doubled the upper limit of the 10-year government bond yield, which shocked global financial markets and pushed the yen to lead the rise in G-10 currencies. Yields on Japanese and U.S. Treasury bonds both rose, while the U.S. stock market fluctuated.

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