{"id":47554,"date":"2026-03-04T03:44:43","date_gmt":"2026-03-04T03:44:43","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/39071\/"},"modified":"2026-03-04T03:44:43","modified_gmt":"2026-03-04T03:44:43","slug":"%e7%be%8e%e5%85%83-%e6%97%a5%e5%9c%93%e7%b6%ad%e6%8c%81%e5%8d%80%e9%96%93%e9%9c%87%e7%9b%aa%ef%bc%8c%e5%8f%97%e9%99%90%e6%96%bc-157-%e4%b8%ad%e6%ae%b5%e4%b8%8b%e6%96%b9%ef%bc%9b%e5%9c%a8%e5%b8%82","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/47554\/","title":{"rendered":"\u7f8e\u5143\/\u65e5\u5713\u7dad\u6301\u5340\u9593\u9707\u76ea\uff0c\u53d7\u9650\u65bc 157 \u4e2d\u6bb5\u4e0b\u65b9\uff1b\u5728\u5e02\u5834\u9810\u671f\u65e5\u672c\u592e\u884c\u5ef6\u5f8c\u5347\u606f\u4e4b\u969b\uff0c\u65e5\u5713\u75b2\u5f31\u6301\u7e8c"},"content":{"rendered":"\u9031\u4e8c\u6b50\u6d32\u65e9\u76e4\uff0cUSD\/JPY \u4ecd\u5728\u72f9\u7a84\u5340\u9593\u5167\u6ce2\u52d5\u3002\u532f\u50f9\u4ecd\u4f4e\u65bc 157.50 \u9644\u8fd1\uff0c\u4e5f\u4f4e\u65bc\u903e\u4e94\u9031\u9ad8\u9ede\u3002\n\n\u7f8e\u5143\u9023\u7e8c\u7b2c\u4e8c\u5929\u4e0a\u6f32\uff0c\u4e26\u5347\u81f3 1 \u6708 20 \u65e5\u4ee5\u4f86\u6700\u9ad8\u3002\u4e3b\u56e0\u662f\u5e02\u5834\u4e0b\u8abf\u5c0d\u7f8e\u570b\u806f\u6e96\u6703\uff08Federal Reserve\uff0c\u7c21\u7a31 Fed\uff1b\u7f8e\u570b\u4e2d\u592e\u9280\u884c\uff09\u66f4\u5927\u5e45\u5ea6\u964d\u606f\u7684\u9810\u671f\uff1b\u540c\u6642\uff0c\u4e2d\u6771\u7dca\u5f35\u5c40\u52e2\u4e5f\u63a8\u5347\u7f8e\u5143\u9700\u6c42\u3002\n\n<h3>\u65e5\u672c\u592e\u884c\u5c55\u671b\u8207\u65e5\u5713\u58d3\u529b<\/h3>\n\u8def\u900f\u5f15\u8ff0\u6d88\u606f\u4eba\u58eb\u7a31\uff0c\u8207\u4e2d\u6771\u885d\u7a81\u76f8\u95dc\u7684\u65b0\u4e00\u6ce2\u6ce2\u52d5\uff0c\u589e\u52a0\u4e86\u65e5\u672c\u592e\u884c\uff08Bank of Japan\uff0c\u7c21\u7a31 BoJ\uff1b\u65e5\u672c\u4e2d\u592e\u9280\u884c\uff09\u5ef6\u5f8c\u5728 3 \u6708\u5347\u606f\u7684\u53ef\u80fd\u6027\u3002\u65e5\u672c\u9996\u76f8\u65e9\u82d7\u9ad8\u5e02\u4e5f\u5c0d BoJ \u9032\u4e00\u6b65\u6536\u7dca\u653f\u7b56\uff08tightening\uff1b\u7528\u5347\u606f\u6216\u6e1b\u5c11\u5bec\u9b06\u8b93\u8cc7\u91d1\u8b8a\u5f97\u66f4\u300c\u8cb4\u300d\uff09\u8868\u793a\u4fdd\u7559\uff0c\u524a\u5f31\u4e86\u65e5\u5713\u652f\u6490\u3002\n\n\u5e02\u5834\u4ecd\u9810\u671f BoJ \u6703\u63a8\u9032\u653f\u7b56\u6b63\u5e38\u5316\uff08policy normalisation\uff1b\u9010\u6b65\u628a\u8d85\u4f4e\u5229\u7387\u3001\u5bec\u9b06\u63aa\u65bd\u62c9\u56de\u8f03\u300c\u6b63\u5e38\u300d\u6c34\u6e96\uff09\u3002\u4f46\u5c0d\u5b98\u65b9\u53ef\u80fd\u51fa\u624b\u9650\u5236\u65e5\u5713\u7e8c\u8cb6\u7684\u64d4\u6182\uff0c\u4e5f\u58d3\u6291\u4e86 USD\/JPY \u7684\u6f32\u5e45\u3002\n\n\u6211\u5011\u5c0d 2025 \u5e74\u521d\u532f\u50f9\u5728 157 \u9644\u8fd1\u7684\u6a6b\u76e4\uff08sideways\uff1b\u4e0a\u4e0b\u4e0d\u5927\u3001\u5340\u9593\u9707\u76ea\uff09\u4ecd\u8a18\u61b6\u6df1\u523b\u3002\u7576\u6642\uff0c\u4e2d\u6771\u5730\u7de3\u653f\u6cbb\u7dca\u5f35\uff08geopolitical tensions\uff1b\u570b\u5bb6\u8207\u5730\u5340\u885d\u7a81\u5e36\u4f86\u7684\u5e02\u5834\u98a8\u96aa\uff09\u652f\u6490\u7f8e\u5143\uff0c\u4f46\u300c\u53ef\u80fd\u5e72\u9810\u300d\u7684\u9670\u5f71\u8b93\u884c\u60c5\u96e3\u4ee5\u7a81\u7834\uff0c\u5340\u9593\u975e\u5e38\u72f9\u7a84\uff0c\u4ea4\u6613\u9ad4\u9a57\u4e0d\u4f73\u3002\n\n\u9019\u7a2e\u72c0\u6cc1\u5728 2025 \u5e74\u5e95\u88ab\u6253\u7834\uff1a\u532f\u50f9\u6e2c\u8a66 160 \u5f8c\uff0c\u65e5\u672c\u5b98\u65b9\u8fc5\u901f\u4e14\u5f37\u52e2\u5e72\u9810\uff08intervention\uff1b\u653f\u5e9c\/\u592e\u884c\u76f4\u63a5\u9032\u5834\u8cb7\u8ce3\u5916\u532f\u5f71\u97ff\u532f\u7387\uff09\uff0c\u4f7f\u532f\u50f9\u5feb\u901f\u4e0b\u8dcc\u3002\u9019\u6bb5\u8fd1\u56e0\u5f88\u91cd\u8981\uff0c\u56e0\u70ba\u5b83\u7b49\u65bc\u756b\u51fa\u5b98\u65b9\u9632\u5b88\u7684\u660e\u78ba\u754c\u7dda\u3002\u56e0\u6b64\uff0c\u6211\u5011\u8a8d\u70ba\u672a\u4f86\u5e7e\u9031\u76f4\u63a5\u8cb7\u9032\u73fe\u8ca8\uff08spot\uff1b\u5373\u671f\u532f\u50f9\uff09\u98a8\u96aa\u504f\u9ad8\u3002\n\n<h3>\u653f\u7b56\u5dee\u7570\u8207\u4ea4\u6613\u60f3\u6cd5<\/h3>\n\u57fa\u672c\u9762\u4e5f\u5df2\u6539\u8b8a\uff1aBoJ \u5728 2025 \u5e74\u7b2c\u4e09\u5b63\u7d50\u675f\u8ca0\u5229\u7387\u653f\u7b56\uff08negative interest rate\uff1b\u628a\u5229\u7387\u964d\u5230 0 \u4ee5\u4e0b\uff09\u3002\u9019\u662f\u56e0\u70ba\u6838\u5fc3\u901a\u81a8\uff08core inflation\uff1b\u6263\u9664\u6ce2\u52d5\u8f03\u5927\u7684\u98df\u54c1\u8207\u80fd\u6e90\u5f8c\u7684\u901a\u81a8\uff09\u6301\u7e8c\u504f\u9ad8\uff1b\u622a\u81f3 2026 \u5e74 1 \u6708\uff0c\u6838\u5fc3\u901a\u81a8\u5df2\u9023\u7e8c 22 \u500b\u6708\u9ad8\u65bc BoJ \u7684 2% \u76ee\u6a19\u3002\u7126\u9ede\u4e0d\u518d\u662f BoJ \u6703\u4e0d\u6703\u884c\u52d5\uff0c\u800c\u662f\u4f55\u6642\u7e7c\u7e8c\u8d70\u5728\u6b63\u5e38\u5316\u8def\u5f91\u4e0a\u3002\n\n\u53e6\u4e00\u908a\uff0cFed \u7684\u964d\u606f\u5faa\u74b0\u6bd4\u8a31\u591a\u4eba\u9810\u671f\u66f4\u4fdd\u5b88\uff0c\u539f\u56e0\u662f\u7f8e\u570b\u901a\u81a8\u9ecf\u8457\uff08sticky inflation\uff1b\u901a\u81a8\u4e0d\u5bb9\u6613\u964d\u4e0b\u4f86\uff09\u3002\u6700\u65b0 2026 \u5e74 2 \u6708\u7f8e\u570b\u6d88\u8cbb\u8005\u7269\u50f9\u6307\u6578\uff08Consumer Price Index\uff0c\u7c21\u7a31 CPI\uff1b\u8861\u91cf\u4e00\u822c\u5bb6\u5ead\u8cfc\u7269\u7c43\u50f9\u683c\u8b8a\u5316\u7684\u901a\u81a8\u6307\u6a19\uff09\u70ba 3.1%\uff0c\u8b93\u5e02\u5834\u5c0d\u4eca\u5e74\u6625\u5b63\u5feb\u901f\u964d\u606f\u7684\u671f\u5f85\u964d\u6eab\u3002\u9019\u7a2e\u653f\u7b56\u5dee\u7570\uff08policy divergence\uff1b\u5169\u570b\u5229\u7387\u65b9\u5411\u4e0d\u540c\uff09\uff0c\u96d6\u7136\u5728\u7e2e\u5c0f\uff0c\u4ecd\u504f\u5411\u652f\u6490\u7f8e\u5143\uff0c\u4e26\u5c0d\u532f\u50f9\u5e36\u4f86\u4e0a\u884c\u58d3\u529b\u3002\n\n\u672a\u4f86\u5e7e\u9031\uff0c\u8f03\u5408\u9069\u7684\u7b56\u7565\u53ef\u80fd\u662f\u8cb7\u9032\u8cb7\u6b0a\uff08call options\uff1b\u770b\u6f32\u671f\u6b0a\uff0c\u652f\u4ed8\u6b0a\u5229\u91d1\u5f8c\u53ef\u5728\u5230\u671f\u524d\u4ee5\u7d04\u5b9a\u50f9\u683c\u8cb7\u5165\uff09\uff0c\u65e2\u80fd\u53c3\u8207\u4e0a\u6f32\uff0c\u4e5f\u80fd\u5148\u628a\u6700\u5927\u98a8\u96aa\u9396\u5b9a\u5728\u6b0a\u5229\u91d1\u3002\u8003\u91cf\u904e\u53bb\u5e72\u9810\u6848\u4f8b\uff0c\u53ef\u9078\u64c7\u4f4e\u65bc 160 \u9019\u500b\u95dc\u9375\u4f4d\u7f6e\u7684\u5c65\u7d04\u50f9\uff08strike\uff1b\u671f\u6b0a\u7d04\u5b9a\u8cb7\u5165\/\u8ce3\u51fa\u7684\u50f9\u683c\uff09\uff0c\u4f8b\u5982\u4ee5 158.50 \u9644\u8fd1\u70ba\u76ee\u6a19\uff0c\u907f\u514d\u7a81\u767c\u65e5\u5713\u8d70\u5f37\uff08JPY strength\uff1b\u65e5\u5713\u5347\u503c\uff09\u9020\u6210\u885d\u64ca\u3002\n\n\u70ba\u4e86\u66f4\u63a7\u98a8\u96aa\uff0c\u770b\u6f32\u50f9\u5dee\uff08bull call spread\uff1b\u8cb7\u9032\u8f03\u4f4e\u5c65\u7d04\u50f9\u8cb7\u6b0a\uff0c\u540c\u6642\u8ce3\u51fa\u8f03\u9ad8\u5c65\u7d04\u50f9\u8cb7\u6b0a\uff09\u53ef\u80fd\u66f4\u5408\u9069\u3002\u900f\u904e\u8ce3\u51fa\u8f03\u9ad8\u5c65\u7d04\u50f9\u7684\u8cb7\u6b0a\uff08\u5c0d\u6c96\u7528\uff09\u53ef\u964d\u4f4e\u6210\u672c\uff0c\u540c\u6642\u5728\u5b98\u65b9\u518d\u5ea6\u51fa\u624b\u6642\u9650\u5236\u640d\u5931\u3002\u9019\u500b\u7b56\u7565\u9069\u5408\u6211\u5011\u8a8d\u70ba\u6703\u7de9\u6b65\u8d70\u9ad8\uff08grind higher\uff1b\u6162\u6162\u4e0a\u6f32\uff09\u4f46\u4e0a\u65b9\u6709\u660e\u986f\u58d3\u529b\uff08ceiling\uff1b\u4e0a\u9650\u3001\u96e3\u4ee5\u7a81\u7834\uff09 \u7684\u5e02\u5834\u3002\n\n<b><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">\u5efa\u7acb\u4f60\u7684 VT Markets \u771f\u5be6\u5e33\u6236<\/a>\u00a0\u4e26\u7acb\u5373\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">\u958b\u59cb\u4ea4\u6613<\/a>\u3002 <\/b>\n<p>\n\n<p><strong>\u7acb\u5373\u958b\u59cb\u4ea4\u6613 &#8211; \u9ede\u64ca<a href=\"https:\/\/www.vtmarketsglobal.com\/trade-now\/\">\u9019\u88e1<\/a>\u5275\u5efa\u60a8\u7684 VT Markets \u771f\u5be6\u8cec\u6236 <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>\u7f8e\u5143\u53d7\u964d\u606f\u9810\u671f\u964d\u6eab\u8207\u4e2d\u6771\u98a8\u96aa\u652f\u6490\u3001USD\/JPY \u4ecd\u53d7\u5e72\u9810\u9670\u5f71\u58d3\u5236\u3002BoJ \u6b63\u5e38\u5316\u3001Fed \u4fdd\u5b88\u964d\u606f\u3002\u60f3\u53c3\u8207\u4e0a\u884c\uff1f\u53ef\u7528 158.5 \u8cb7\u6b0a\u6216\u725b\u5e02\u50f9\u5dee\u63a7\u98a8\u96aa\u3002<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-47554","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\/zh-ca\/wp-json\/wp\/v2\/posts\/47554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/comments?post=47554"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/posts\/47554\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/media?parent=47554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/categories?post=47554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh-ca\/wp-json\/wp\/v2\/tags?post=47554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}