MUFG
Institutional, MUFG
RBI to keep tightening risks alive – MUFG
MUFG analysts Lin Li, Michael Wan, Lloyd Chan and Khang Sek Lee highlight that Asia FX will be driven by the Reserve Bank of India’s (RBI) finely balanced decision on 7 October. They expect RBI to keep rates on hold but stress that a hiking cycle from December is likely, with a total of 50–75bps […]
by Currency Hedger
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- 22 hours ago
Institutional, MUFG
Indonesian Rupiah: Rate support erodes as outflows resume – MUFG
MUFG’s Lloyd Chan warns that the Indonesian Rupiah remains exposed as US yield increases erode Indonesia’s rate support. Bank Indonesia has shifted focus from further rate hikes to non-rate stabilisation tools, such as cheaper FX hedging, but renewed foreign portfolio outflows and prospects of weaker trade balances suggest underlying Rupiah pressure persists in the near […]
by Currency Hedger
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- 6 days ago
MUFG
USD/JPY: Weekly review highlights Dollar strength – MUFG
MUFG’s Teppei Ino reviews USD/JPY price action over Japan’s extended holiday week. The pair opened near 157 and traded in a broad 156–159 range as Dollar strength persisted and expectations of a possible earlier Federal Reserve rate hike supported gains. However, caution over potential Japanese intervention and comments from Finance Minister Satsuki Katayama saw USD/JPY […]
by Currency Hedger
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- 6 days ago
Institutional, MUFG
US Dollar: Higher yields support currency – MUFG
MUFG’s Derek Halpenny notes the US Dollar (USD) is strengthening as US fixed income sells off, driving global bond weakness and higher yields across the curve. A poor 5-year UST auction and strong US and global PMIs are reinforcing hawkish Federal Reserve (Fed) rhetoric. Rising Brent Oil and potential US diesel export bans add to […]
by Currency Hedger
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- 1 week ago
Institutional, MUFG
New Zealand Dollar: Hawkish RBNZ pricing supports kiwi – MUFG
MUFG’s Lee Hardman highlights the New Zealand Dollar (NZD) as the main overnight mover, boosted by hawkish guidance from Reserve Bank of New Zealand (RBNZ) Governor Breman. His comments on higher Oil-driven inflation have reinforced expectations for a third consecutive 25 bps hike next month. Stronger-than-expected Q2 growth and markets pricing over 100 bps of […]
by Currency Hedger
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- 2 weeks ago
Institutional, MUFG
Japanese Yen: BoJ rate check limits yen downside – MUFG
MUFG’s Lee Hardman notes that the Japanese Yen initially weakened sharply after the latest BoJ policy update, with USD/JPY briefly above 158.00 before retreating towards 157.00. Reports of a BoJ rate check signalled readiness to intervene, capping near-term Yen weakness as USD/JPY approaches 160.00. MUFG sees a “new phase” of policy consistent with rate hikes […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Institutional, MUFG
Oil: Prices fall as supply risks reassessed – MUFG
MUFG notes that Oil prices have declined as markets reassess supply risks tied to the US-Iran war and regional chokepoints. Saudi Arabia’s efforts to restore the East-West pipeline and continued tanker traffic through the Strait of Hormuz, alongside diplomatic moves by the US, Gulf nations, China and Iran, have supported a rally in risk assets […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Institutional, MUFG
Indian Rupee: RBI support tempers depreciation risks versus US Dollar – MUFG
MUFG’s Michael Wan assesses Reserve Bank of India’s (RBI) June 2026 FX measures and their impact on the Indian Rupee and USD/INR. He notes a large build-up of FX reserves and liquidity, and argues these measures have reduced tail risks of sharp INR depreciation. However, MUFG still expects USD/INR to rise gradually into 2027, with INR […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Institutional, MUFG
US Dollar: CPI outcome to steer rate expectations – MUFG
MUFG’s Lee Hardman highlights that the stronger United States (US) Producer Price Index (PPI) data has reinforced expectations for a Federal Reserve (Fed) rate hike, with around 18 bps now priced for next week’s FOMC meeting. He notes that today’s US Consumer Price Index (CPI), especially core CPI at a forecast 0.2% M/M, will be crucial for […]
by Currency Hedger
- 0 Comments
- 3 weeks ago
Institutional, MUFG
Japanese Yen: Supported by policy shift expectations – MUFG
MUFG’s Lee Hardman notes that the Japanese Yen (JPY) has strengthened, driving USD/JPY back towards 153.00, as comments from US Treasury Secretary Scott Bessent reinforce expectations of policy changes in Japan. The bank highlights growing market conviction that the Bank of Japan will accelerate rate hikes this month, helping the Yen rebound without further joint […]
by Currency Hedger
- 0 Comments
- 4 weeks ago