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今天BBC商業新聞分析日圓為何創新高的原因:
1. 保險公司將國外資產(以外國貨幣方式投資的)匯回國內(作為賠償之用)
2. 其他在國外投資的投資者,趁著貨幣市場波動大時,匯回外幣兌換日幣,使日幣升值,以便握有日幣作為避險貨幣,如2008年金融危機的情形。
3. 日本一向出口導向,出口賺錢匯回國內(inflow),同時也會匯出投資國外(outflow),而取得平衡。但對外投資因此次災難而短暫受影響。
http://www.bbc.co.uk/news/business-12768098
Japan's currency has been strengthening steeply since Japan was devastated by a magnitude 9 earthquake on Friday.
A rise in the yen is seen as undesirable as it undermines the competitiveness of Japanese exporters.
Analysts have been blaming the strengthening of the yen on the repatriation of assets and foreign currency by Japanese insurance firms.
Other Japanese investors also own large holdings of foreign currency assets.
During periods of volatility - such as the 2008 financial crisis - investors responded by repatriating these assets, pushing up the yen's value, and thereby cementing its status as a haven currency.There may also be another reason behind the strengthening yen, according to currency strategist Sean Callow at Westpac Bank.
Japan typically runs a large current account surplus, thanks to the success of its exporters, who earn foreign currency that they then repatriate.
This inflow of money by exporters is normally balanced by an equal net outflow of Japanese investments into the rest of the world.
But following the earthquake, Mr Callow thinks Japanese investment flows have been temporarily disrupted, causing the yen to appreciate. |
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