{"id":24636,"date":"2025-08-28T06:28:46","date_gmt":"2025-08-28T06:28:46","guid":{"rendered":"https:\/\/www.vtmarkets.com\/th\/uncategorized\/24636\/"},"modified":"2025-08-28T06:28:46","modified_gmt":"2025-08-28T06:28:46","slug":"%e0%b8%99%e0%b8%b2-%e0%b8%84%e0%b8%b0%e0%b8%81%e0%b8%b0%e0%b8%a7%e0%b8%b0%e0%b9%80%e0%b8%99%e0%b9%89%e0%b8%99%e0%b8%a2%e0%b9%89%e0%b8%b3%e0%b8%a7%e0%b9%88%e0%b8%b2%e0%b8%81%e0%b8%b2%e0%b8%a3%e0%b8%95","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/th-asia\/live-updates\/24636\/","title":{"rendered":"\u0e19\u0e32 \u0e04\u0e30\u0e01\u0e30\u0e27\u0e30\u0e40\u0e19\u0e49\u0e19\u0e22\u0e49\u0e33\u0e27\u0e48\u0e32\u0e01\u0e32\u0e23\u0e15\u0e31\u0e14\u0e2a\u0e34\u0e19\u0e43\u0e08\u0e08\u0e30\u0e02\u0e36\u0e49\u0e19\u0e2d\u0e22\u0e39\u0e48\u0e01\u0e31\u0e1a\u0e02\u0e49\u0e2d\u0e21\u0e39\u0e25\u0e42\u0e14\u0e22\u0e21\u0e35\u0e04\u0e27\u0e32\u0e21\u0e44\u0e21\u0e48\u0e41\u0e19\u0e48\u0e19\u0e2d\u0e19\u0e43\u0e19\u0e19\u0e42\u0e22\u0e1a\u0e32\u0e22\u0e01\u0e32\u0e23\u0e04\u0e49\u0e32\u0e25\u0e14\u0e25\u0e07\u0e40\u0e25\u0e47\u0e01\u0e19\u0e49\u0e2d\u0e22"},"content":{"rendered":"BOJ policymaker Junko Nakagawa stated that policy decisions will be made at each meeting based on hard data. This includes data from the BOJ Tankan survey, which is essential for assessing sentiment and capital expenditure.\n\nNakagawa indicated that the risk of falling behind on policy adjustments is low at present. He asserted that long-term interest rates should be set freely by market forces.\n\n

Uncertainty Around Trade Policies<\/h3> \nHe also noted that uncertainty around trade policies has eased slightly since April.\n\nThese remarks reinforce our view that the Bank of Japan is in no hurry to aggressively raise interest rates. This cautious, data-dependent stance keeps the yen carry trade attractive, where traders borrow yen cheaply to fund investments in higher-yielding currencies. The USD\/JPY exchange rate holding firm above the 155 level this week is a direct reflection of this policy divergence.\n\nThe specific mention of the Tankan survey sets up the early October release as the next major catalyst for Japanese markets. Until then, we can expect low implied volatility in yen currency pairs, which creates opportunities for selling short-dated options. \n\nThe idea that long-term rates should be set by the market suggests the BOJ will continue to tolerate a steeper yield curve. We have already seen the 10-year Japanese government bond yield climb to 1.15%, a significant move from the sub-1% levels seen earlier in 2025. This trend supports positions in derivatives that profit from rising long-term interest rates.\n\n

Patient Approach Supported by Inflation Figures<\/h3>\nThis patient approach is supported by the latest inflation figures, which showed Japan\u2019s core CPI for July 2025 cooled to 1.9%, down from the 2.5% peaks we witnessed in the first quarter of the year. With inflation now back below the 2% target, the central bank has little incentive to act preemptively. \n\nWhile the fundamental direction seems clear, we must be mindful of intervention risk from the Ministry of Finance. Looking back at the sharp market moves during the interventions of 2022 and 2024, any rapid ascent of USD\/JPY toward the 160 mark could trigger abrupt yen-buying operations. Traders should use options to define their risk against such sudden policy-driven reversals. \n\nCreate your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now.<\/b>\n

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\u0e40\u0e23\u0e34\u0e48\u0e21\u0e0b\u0e37\u0e49\u0e2d\u0e02\u0e32\u0e22\u0e17\u0e31\u0e19\u0e17\u0e35 – \u0e04\u0e25\u0e34\u0e01\u0e17\u0e35\u0e48\u0e19\u0e35\u0e48<\/a> \u0e40\u0e1e\u0e37\u0e48\u0e2d\u0e2a\u0e23\u0e49\u0e32\u0e07\u0e1a\u0e31\u0e0d\u0e0a\u0e35\u0e08\u0e23\u0e34\u0e07\u0e02\u0e2d\u0e07 VT Markets <\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"

\u0e19\u0e42\u0e22\u0e1a\u0e32\u0e22\u0e02\u0e2d\u0e07 BOJ \u0e08\u0e30\u0e02\u0e36\u0e49\u0e19\u0e2d\u0e22\u0e39\u0e48\u0e01\u0e31\u0e1a\u0e02\u0e49\u0e2d\u0e21\u0e39\u0e25\u0e17\u0e35\u0e48\u0e41\u0e17\u0e49\u0e08\u0e23\u0e34\u0e07 \u0e1e\u0e23\u0e49\u0e2d\u0e21\u0e02\u0e49\u0e2d\u0e21\u0e39\u0e25\u0e08\u0e32\u0e01\u0e01\u0e32\u0e23\u0e2a\u0e33\u0e23\u0e27\u0e08\u0e01\u0e23\u0e30\u0e41\u0e2a Tankan \u0e43\u0e19\u0e40\u0e14\u0e37\u0e2d\u0e19\u0e15\u0e38\u0e25\u0e32\u0e04\u0e21\u0e19\u0e35\u0e49 \u0e17\u0e33\u0e43\u0e2b\u0e49\u0e01\u0e32\u0e23\u0e04\u0e49\u0e32\u0e40\u0e22\u0e19\u0e22\u0e31\u0e07\u0e19\u0e48\u0e32\u0e2a\u0e19\u0e43\u0e08\u0e43\u0e19\u0e02\u0e13\u0e30\u0e19\u0e35\u0e49<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-24636","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/posts\/24636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/comments?post=24636"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/posts\/24636\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/media?parent=24636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/categories?post=24636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/th-asia\/wp-json\/wp\/v2\/tags?post=24636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}