{"id":52200,"date":"2026-08-03T01:22:23","date_gmt":"2026-08-03T01:22:23","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr-mena\/uncategorized\/japonya-ve-abd-katayamanin-ilave-dolar-likiditesi-adimlarina-isaret-etmesiyle-koordineli-yen-destegini-artirdi\/"},"modified":"2026-08-03T01:22:23","modified_gmt":"2026-08-03T01:22:23","slug":"japonya-ve-abd-katayamanin-ilave-dolar-likiditesi-adimlarina-isaret-etmesiyle-koordineli-yen-destegini-artirdi","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/japonya-ve-abd-katayamanin-ilave-dolar-likiditesi-adimlarina-isaret-etmesiyle-koordineli-yen-destegini-artirdi\/","title":{"rendered":"Japonya ve ABD, Katayama\u2019n\u0131n ilave dolar likiditesi ad\u0131mlar\u0131na i\u015faret etmesiyle koordineli yen deste\u011fini art\u0131rd\u0131"},"content":{"rendered":"

Japonya Maliye Bakan\u0131 Satsuki Katayama, Bloomberg\u2019e g\u00f6re Japon yetkililerin cuma g\u00fcn\u00fc ABD ile koordineli \u015fekilde yen al\u0131m m\u00fcdahalesi ger\u00e7ekle\u015ftirdi\u011fini s\u00f6yledi ve Tokyo\u2019nun Washington ile birlikte ilave d\u00f6viz piyasas\u0131 m\u00fcdahaleleri yapmaya haz\u0131r oldu\u011funu belirtti. Katayama, s\u00f6z konusu ad\u0131m\u0131n yende \u201ca\u015f\u0131r\u0131 ve d\u00fczensiz\u201d olarak niteledi\u011fi hareketlere kar\u015f\u0131 koymay\u0131 ama\u00e7lad\u0131\u011f\u0131n\u0131 s\u00f6yledi ve Japonya\u2019n\u0131n gelecekte Fed\u2019in yabanc\u0131 ve uluslararas\u0131 repo (FIMA) imk\u00e2n\u0131n\u0131 kullanmay\u0131 planlad\u0131\u011f\u0131n\u0131 ekledi. Ayr\u0131ca Japonya\u2019n\u0131n ABD Hazine Bakanl\u0131\u011f\u0131\u2019ndaki muhataplar\u0131yla yak\u0131n temas\u0131n\u0131 s\u00fcrd\u00fcrd\u00fc\u011f\u00fcn\u00fc, ancak cuma g\u00fcnk\u00fc ad\u0131m\u0131n \u00f6tesinde m\u00fcdahaleye ili\u015fkin yorumlar\u0131n\u0131 s\u0131n\u0131rl\u0131 tuttu\u011funu ifade etti.<\/p>\n

ABD Hazine Bakan\u0131 Scott Bessent ise koordineli d\u00f6viz operasyonunun Japon yenindeki d\u00fczensiz dalgalanmalar\u0131 s\u0131n\u0131rlamaya yard\u0131mc\u0131 oldu\u011funu s\u00f6yledi ve Hazine\u2019nin, Japonya Maliye Bakanl\u0131\u011f\u0131 ve Japonya Merkez Bankas\u0131 (BOJ) ile yak\u0131n ileti\u015fimi s\u00fcrd\u00fcr\u00fcrken piyasalar\u0131 dikkatle izlemeye devam edece\u011fini belirtti. A\u00e7\u0131klamalar\u0131n ard\u0131ndan i\u015flemlerde yen g\u00fc\u00e7lenirken, USD\/JPY g\u00fcn i\u00e7inde %0,62 d\u00fc\u015f\u00fc\u015fle 156,35\u2019e geriledi. BOJ yakla\u015f\u0131k %2 enflasyonu hedefliyor; 2013\u2019te Niceliksel ve Niteliksel Gev\u015feme (QQE) program\u0131n\u0131 benimsedi, 2016\u2019da negatif faiz ve 10 y\u0131ll\u0131k getiri kontrol\u00fcn\u00fc ekledi, ard\u0131ndan ultra gev\u015fek duru\u015fundan uzakla\u015f\u0131rken Mart 2024\u2019te faiz art\u0131rd\u0131.<\/p>\n

ABD-Japonya M\u00fcdahalesi Sonras\u0131 T\u00fcrev \u0130\u015flem Yapanlar \u0130\u00e7in \u00c7\u0131kar\u0131mlar<\/h3>\n

T\u00fcrev yat\u0131r\u0131mc\u0131lar\u0131na, ABD-Japonya ortak m\u00fcdahalesi sonras\u0131nda USD\/JPY\u2019de artan oynakl\u0131\u011fa ve a\u015fa\u011f\u0131 y\u00f6nl\u00fc bir trende haz\u0131rl\u0131kl\u0131 olmalar\u0131n\u0131 \u00f6neriyoruz. USD\/JPY\u2019nin 156,35\u2019e gerilemesiyle, uzun dolar pozisyonu ta\u015f\u0131man\u0131n riski belirgin \u015fekilde artm\u0131\u015f durumda. Tarihsel olarak 1998\u2019de birka\u00e7 g\u00fcn i\u00e7inde yende %10\u2019un \u00fczerinde harekete yol a\u00e7anlar gibi koordineli m\u00fcdahaleler, politika yap\u0131c\u0131lar\u0131n bu kur seviyelerini savunma konusunda y\u00fcksek kararl\u0131l\u0131k ta\u015f\u0131d\u0131\u011f\u0131na i\u015faret eder.<\/p>\n

Yendeki Hareketler \u0130\u00e7in Stratejiler ve Risk Y\u00f6netimi<\/h3>\n

Ani d\u00fc\u015f\u00fc\u015flerden faydalan\u0131rken toplam a\u015fa\u011f\u0131 y\u00f6nl\u00fc riski s\u0131n\u0131rlamak i\u00e7in k\u0131sa vadeli USD\/JPY put opsiyonlar\u0131n\u0131n kullan\u0131lmas\u0131n\u0131 \u00f6neriyoruz. 2024 ortas\u0131ndaki benzer m\u00fcdahale d\u00f6nemlerinde, bir ayl\u0131k yen opsiyonlar\u0131nda ima edilen volatilite %8\u2019den %14\u2019\u00fcn \u00fczerine s\u0131\u00e7rayarak opsiyon de\u011ferlerini belirgin \u015fekilde y\u00fckseltmi\u015fti. Bu opsiyonlar\u0131 \u015fimdi almak, dalgal\u0131 ve d\u00fczensiz piyasalarda \u201cstop\u201d olma riskine girmeden h\u0131zl\u0131 a\u015fa\u011f\u0131 y\u00f6nl\u00fc hareketleri yakalamay\u0131 sa\u011flar.<\/p>\n

Bariyer veya knock-out opsiyonlar\u0131 kullananlar i\u00e7in, \u00fcst koruyucu bariyerlerin 158,50\u2019nin kayda de\u011fer \u00f6l\u00e7\u00fcde \u00fczerinde belirlenmesini \u00f6neriyoruz. Japonya\u2019n\u0131n Fed\u2019in yabanc\u0131 repo imk\u00e2n\u0131n\u0131 kullanmay\u0131 planlamas\u0131 nedeniyle, yetkililer ani sat\u0131\u015flar\u0131 ger\u00e7ekle\u015ftirmek i\u00e7in b\u00fcy\u00fck \u00f6l\u00e7ekli dolar likiditesine an\u0131nda eri\u015febilecek. K\u0131sa vadede 157,00\u2019ye do\u011fru olas\u0131 bir toparlanman\u0131n, merkez bankalar\u0131ndan gelecek agresif ve koordineli diren\u00e7le kar\u015f\u0131la\u015fmas\u0131 y\u00fcksek olas\u0131l\u0131k.<\/p>\n

Faiz farklar\u0131n\u0131n temel olarak h\u00e2l\u00e2 dolar\u0131 destekledi\u011fini; dolay\u0131s\u0131yla yenin toparlanmas\u0131n\u0131n sars\u0131nt\u0131l\u0131 olabilece\u011fini de kabul etmek gerekiyor. Ancak ABD Hazine\u2019si ile BOJ\u2019un birle\u015fik g\u00fcc\u00fcne kar\u015f\u0131 pozisyon almak, tarihsel olarak kaybettiren bir i\u015flem olmu\u015ftur. \u00d6n\u00fcm\u00fczdeki haftalarda k\u0131sa vadeli d\u00fc\u015f\u00fc\u015f y\u00f6nl\u00fc spread\u2019lere odaklan\u0131lmas\u0131n\u0131 ve uzun USD\/JPY pozisyonlar\u0131ndan ka\u00e7\u0131n\u0131lmas\u0131n\u0131 \u00f6neriyoruz.<\/p>\n\n\n\n

Hemen i\u015flem yapmaya ba\u015flay\u0131n \u2014 ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in buraya<\/a> t\u0131klay\u0131n.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

Piyasalar diken \u00fcst\u00fcnde: Japonya, ABD ile koordineli yen al\u0131m m\u00fcdahalesini do\u011frulad\u0131; ek ad\u0131mlar masada. FIMA kullan\u0131labilir. Yen g\u00fc\u00e7lendi, USD\/JPY 156,35\u2019e indi; volatilite ve a\u015fa\u011f\u0131 trend riski artt\u0131.<\/p>\n","protected":false},"author":87,"featured_media":50176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-52200","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