{"id":52384,"date":"2026-08-04T09:37:39","date_gmt":"2026-08-04T09:37:39","guid":{"rendered":"https:\/\/www.vtmarkets.com\/cn\/uncategorized\/%e9%81%93%e6%98%8e%e8%af%81%e5%88%b8%e8%ae%a4%e4%b8%ba%ef%bc%8c%e6%97%a5%e6%9c%ac%e5%b9%b2%e9%a2%84%e5%90%8e%e7%be%8e%e5%85%83-%e6%97%a5%e5%85%83%e4%bb%8d%e5%b0%86%e7%bb%b4%e6%8c%81%e5%9c%a8153\/"},"modified":"2026-08-04T09:37:39","modified_gmt":"2026-08-04T09:37:39","slug":"%e9%81%93%e6%98%8e%e8%af%81%e5%88%b8%e8%ae%a4%e4%b8%ba%ef%bc%8c%e6%97%a5%e6%9c%ac%e5%b9%b2%e9%a2%84%e5%90%8e%e7%be%8e%e5%85%83-%e6%97%a5%e5%85%83%e4%bb%8d%e5%b0%86%e7%bb%b4%e6%8c%81%e5%9c%a8153","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/cn\/live-updates\/%e9%81%93%e6%98%8e%e8%af%81%e5%88%b8%e8%ae%a4%e4%b8%ba%ef%bc%8c%e6%97%a5%e6%9c%ac%e5%b9%b2%e9%a2%84%e5%90%8e%e7%be%8e%e5%85%83-%e6%97%a5%e5%85%83%e4%bb%8d%e5%b0%86%e7%bb%b4%e6%8c%81%e5%9c%a8153\/","title":{"rendered":"\u9053\u660e\u8bc1\u5238\u8ba4\u4e3a\uff0c\u65e5\u672c\u5e72\u9884\u540e\u7f8e\u5143\/\u65e5\u5143\u4ecd\u5c06\u7ef4\u6301\u5728153\u4e0a\u65b9\uff0c\u5e74\u672b\u76ee\u6807159"},"content":{"rendered":"

TD Securities\u8868\u793a\uff0c\u8fd1\u671f\u65e5\u672c\u8d22\u52a1\u7701\u7684\u5e72\u9884\u884c\u52a8\u4ee5\u53ca\u6709\u5173\u7f8e\u65e5\u53ef\u80fd\u534f\u8c03\u7684\u8ba8\u8bba\uff0c\u5e76\u672a\u6539\u53d8\u7f8e\u5143\/\u65e5\u5143\uff08USD\/JPY\uff09\u66f4\u5e7f\u6cdb\u7684\u8fd0\u884c\u201c\u533a\u95f4\/\u673a\u5236\u201d\uff08regime\uff09\u3002\u8be5\u673a\u6784\u8ba4\u4e3a\uff0c\u968f\u7740\u52a8\u80fd\u964d\u6e29\uff0c\u77ed\u671f\u5b58\u5728\u56de\u8c03\u7a7a\u95f4\uff0c\u6c47\u4ef7\u6216\u4e0b\u63a2\u81f3153.00\u9644\u8fd1\uff0c\u4f46\u9884\u8ba1\u5c06\u5b88\u4f4f\u8be5\u6c34\u5e73\u4e4b\u4e0a\u3002\u5176\u5e74\u672b\u9884\u6d4b\u4ecd\u7ef4\u6301\u5728159.00\u3002<\/p>\n\n

\u5728\u65e5\u672c\u8d22\u52a1\u7701\u8fde\u7eed\u4e24\u65e5\u5165\u5e02\u3001\u7d2f\u8ba1\u89c4\u6a21\u7ea6870\u4ebf\u7f8e\u5143\u540e\uff0cUSD\/JPY\u5927\u5e45\u4e0b\u632b\uff0c\u5e76\u57282026\u5e74\u9996\u6b21\u56de\u843d\u81f3200\u65e5\u7b80\u5355\u79fb\u52a8\u5747\u7ebf\uff08200-day SMA\uff09\u9644\u8fd1\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u5a92\u4f53\u62a5\u9053\u79f0\u65e5\u672c\u4e0e\u7f8e\u56fd\u53ef\u80fd\u8fdb\u884c\u8054\u5408\u5e72\u9884\u3002TD Securities\u7684\u8d8b\u52bf\u8ddf\u8e2a\u6a21\u578b\u5df2\u7531\u4e0a\u884c\u8d8b\u52bf\u8f6c\u4e3a\u4e2d\u6027\uff0c\u4f46\u5c1a\u672a\u8f6c\u5165\u4e0b\u884c\u8d8b\u52bf\u3002\u8be5\u884c\u9884\u8ba1\uff0c\u82e5\u7f3a\u4e4f\u65e5\u672c\u592e\u884c\u66f4\u504f\u9e70\u6d3e\u7684\u7acb\u573a\u4ee5\u53ca\u7f8e\u56fd\u76f4\u63a5\u3001\u6301\u7eed\u53c2\u4e0e\u65e5\u5143\u5e72\u9884\uff0c\u77ed\u671f\u4e0b\u884c\u7a7a\u95f4\u6709\u9650\uff0c153.00\u9644\u8fd1\u6216\u4e3a\u4e3b\u8981\u4e0b\u63a2\u76ee\u6807\u3002<\/p>\n\n

Market Reaction And Near-Term Trading Strategy<\/h3>\n\n

\u6211\u4eec\u8ba4\u4e3a\uff0c\u65e5\u672c\u8d22\u52a1\u7701\u8fd1\u671f\u66f4\u4e3a\u5f3a\u786c\u7684\u5e72\u9884\u66f4\u50cf\u662f\u5bf9USD\/JPY\u7684\u9636\u6bb5\u6027\u963b\u788d\uff0c\u800c\u975e\u6c38\u4e45\u6027\u7684\u8d8b\u52bf\u53cd\u8f6c\u3002\u5c3d\u7ba1\u7ea6870\u4ebf\u7f8e\u5143\u7684\u5e72\u9884\u529b\u5ea6\u5c06\u6c47\u4ef7\u62d6\u81f3200\u65e5\u7b80\u5355\u79fb\u52a8\u5747\u7ebf\uff0c\u4f46\u5e02\u573a\u5e95\u5c42\u9a71\u52a8\u5e76\u672a\u53d1\u751f\u53d8\u5316\u3002\u6211\u4eec\u5efa\u8bae\u884d\u751f\u54c1\u4ea4\u6613\u8005\u5c06\u6b64\u6b21\u6025\u8dcc\u89c6\u4e3a\u5e03\u5c40\u540e\u7eed\u53cd\u5f39\u7684\u4f18\u8d28\u7a97\u53e3\u3002<\/p>\n\n

\u672a\u6765\u6570\u5468\u5185\uff0c\u6211\u4eec\u5efa\u8bae\u4e70\u5165USD\/JPY\u770b\u6da8\u671f\u6743\uff08call\uff09\uff0c\u884c\u6743\u4ef7\u76ee\u6807\u6307\u5411159.00\uff0c\u540c\u65f6\u5c06\u9632\u5fa1\u6027\u6b62\u635f\u4f4d\u8bbe\u5728153.00\u4e0b\u65b9\u7565\u4f4e\u5904\u3002\u6216\u8005\uff0c\u4ea4\u6613\u8005\u4ea6\u53ef\u8003\u8651\u5728153.00\u9644\u8fd1\u5356\u51fa\u865a\u503c\u770b\u8dcc\u671f\u6743\uff08out-of-the-money puts\uff09\u4ee5\u83b7\u53d6\u6743\u5229\u91d1\uff0c\u6211\u4eec\u9884\u8ba1\u8be5\u6c34\u5e73\u5c06\u6784\u6210\u575a\u5b9e\u652f\u6491\u3002\u6b64\u7c7b\u7ed3\u6784\u5316\u7b56\u7565\u6709\u52a9\u4e8e\u5728\u628a\u63e1\u5f53\u524d\u6ce2\u52a8\u7684\u540c\u65f6\uff0c\u907f\u514d\u5728\u65e5\u5143\u77ed\u671f\u8fdb\u4e00\u6b65\u8d70\u5f3a\u65f6\u201c\u63a5\u98de\u5200\u201d\u3002<\/p>\n\n

Policy Dynamics And Structural Outlook<\/h3>\n\n

\u5386\u53f2\u7ecf\u9a8c\u8868\u660e\uff0c\u7f3a\u4e4f\u8d27\u5e01\u653f\u7b56\u914d\u5408\u7684\u5355\u8fb9\u6c47\u7387\u5e72\u9884\uff0c\u957f\u671f\u5f80\u5f80\u96be\u4ee5\u594f\u6548\u3002\u4f8b\u5982\uff0c\u5728\u65e5\u672c\u4e8e2022\u5e74\u4e0e2024\u5e74\u7684\u5386\u53f2\u6027\u5e72\u9884\u4e2d\uff0c\u653f\u5e9c\u66fe\u4ee5\u5355\u6b21\uff08\u6216\u96c6\u4e2d\uff09\u65b9\u5f0f\u52a8\u7528\u8d85\u8fc79\u4e07\u4ebf\u65e5\u5143\uff0c\u4f46\u7531\u4e8e\u5e95\u5c42\u6536\u76ca\u7387\u5229\u5dee\u5e76\u672a\u6536\u655b\uff0c\u65e5\u5143\u7684\u9636\u6bb5\u6027\u53cd\u5f39\u901a\u5e38\u5728\u6570\u5468\u5185\u6d88\u9000\u3002\u5f53\u524d\u7f8e\u8054\u50a8\u4e0e\u65e5\u672c\u592e\u884c\u4e4b\u95f4\u7684\u5229\u5dee\u4ecd\u8d85\u8fc74\u4e2a\u767e\u5206\u70b9\uff0c\u5957\u606f\u4ea4\u6613\uff08carry trade\uff09\u7684\u57fa\u672c\u6fc0\u52b1\u4f9d\u65e7\u7a33\u56fa\u5b58\u5728\u3002<\/p>\n\n

\u5728\u65e5\u672c\u592e\u884c\u672a\u542f\u52a8\u660e\u786e\u4e14\u504f\u9e70\u6d3e\u7684\u52a0\u606f\u5468\u671f\u3001\u6216\u7f8e\u56fd\u8054\u90a6\u50a8\u5907\u59d4\u5458\u4f1a\u672a\u8fdb\u884c\u4e3b\u52a8\u5356\u51fa\u7f8e\u5143\u7684\u60c5\u51b5\u4e0b\uff0c\u65e5\u5143\u4e0a\u884c\u7a7a\u95f4\u5c06\u53d7\u5230\u4e25\u683c\u9650\u5236\u3002\u6211\u4eec\u9884\u8ba1\u5e02\u573a\u5c06\u5728\u672a\u6765\u4e00\u4e2a\u6708\u9010\u6b65\u91cd\u65b0\u5b9a\u4ef7\u8fd9\u4e00\u73b0\u5b9e\uff0c\u4ece\u800c\u63a8\u52a8USD\/JPY\u56de\u5230\u6211\u4eec\u8bbe\u5b9a\u7684\u5e74\u672b\u76ee\u6807159.00\u3002\u56e0\u6b64\uff0c\u884d\u751f\u54c1\u7ec4\u5408\u5e94\u7ee7\u7eed\u7ef4\u6301USD\/JPY\u51c0\u591a\u5934\uff0c\u5e76\u5229\u7528\u6b64\u6b21\u9636\u6bb5\u6027\u56de\u8c03\uff0c\u4ee5\u66f4\u4f4e\u6210\u672c\u6784\u5efa\u957f\u6ce2\u52a8\u7387\uff08long volatility\uff09\u591a\u5934\u4ed3\u4f4d\u3002<\/p>\n\n\n\n

\u7acb\u5373\u5f00\u59cb\u4ea4\u6613 \u2014 \u70b9\u51fb\u6b64\u5904<\/a>\u5f00\u8bbe\u60a8\u7684 VT Markets \u771f\u5b9e\u8d26\u6237\u3002<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

870\u4ebf\u7f8e\u5143\u5e72\u9884\u81f4\u7f8e\u5143\/\u65e5\u5143\u56de\u843d\u81f3200\u65e5\u5747\u7ebf\uff0cTD\u79f0\u672a\u6539\u533a\u95f4\u673a\u5236\uff1b\u52a8\u80fd\u964d\u6e29\u6216\u63a2153\u4f46\u5b88\u7a33\u3002\u5efa\u8bae\u9022\u8dcc\u5e03\u5c40\u51c0\u591a\u4e0e\u591a\u5934\u671f\u6743\uff0c\u5e74\u672b\u76ee\u6807159\u3002<\/p>\n","protected":false},"author":87,"featured_media":50120,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-52384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t