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Citi said it favors a stronger yen and sees room for USD/JPY to fall, citing technical constraints, possible unwinding of currency hedges, and a shift in the Bank of Japan’s policy focus. Japan’s GPIF reported a ¥5.25 trillion second-quarter loss but left its asset allocation targets unchanged; the government has discussed, but not decided on, shifting the fund toward domestic assets.
Expectations of a firmer yen or faster Japanese rate increases could weigh on USD/JPY and alter the yen cost of dollar-priced imports. The fund’s unchanged targets limit the immediate impact of the domestic-asset allocation discussion.
efxdata.comRichard PaceNov 6, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
