FX market says we're really close, real close…
Just follow the dollar down that rabbit hole
Mr CNH and Misty Yen gonna show us the way
Remember…
The hurrier I go, the behinder I get…
Stay Slow
Stay amongst the mad people
We're all mad here. I'm mad. You're mad.
Stay MAD… https://t.co/HIDwBTz9GH pic.twitter.com/n2apDt5OB6— Hugh Hendry Eclectica (@hendry_hugh) March 29, 2024
Japan relies heavily on currency swaps to finance cross-border claims in USD due to limited direct financing options.
Japan has high cross-border claims in USD and little direct financing in USD through the issuance of certificates of deposit or commercial paper. With a lower level of collateral circulation, they opt to engage in currency swaps, which are a type of synthetic financing in USD, or…
— Madriguera Económica Diego Quevedo (@trader_zona) March 29, 2024