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Market Impact: 0.3
Carry Trade Funding May Shift to Yuan From Yen, BBVA Says
Source: Bloomberg
Currency & FXInterest Rates & YieldsMarket Technicals & FlowsBanking & Liquidity
BBVA SA says the Chinese yuan could gain appeal for carry trades as an alternative to the yen if the Bank of Japan delivers further interest-rate hikes. The move would be FX-market driven rather than a fundamental China headline, implying potential incremental flows into CNH/CNY versus JPY. Net impact is likely moderate, depending on how BOJ pricing is repriced and where carry spreads settle.
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