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MUFG\u8868\u793a\uff0c\u65e5\u5713\u514c\u7f8e\u5143\u8fd1\u671f\u53cd\u5f48\u672a\u5fc5\u53ef\u6301\u7e8c\uff0c\u7f8e\u5143\u514c\u65e5\u5713\uff08USD\/JPY\uff09\u4ecd\u8655\u65bc\u81ea2\u6708\u5e95\u4e2d\u6771\u885d\u7a81\u7206\u767c\u4ee5\u4f86\u300c\u65e5\u5713\u504f\u5f31\u300d\u7684\u5927\u8da8\u52e2\u4e4b\u5167\u3002\u8a72\u884c\u5c07\u4eca\u6b21\u8d70\u52e2\u8207\u65e5\u672c\u592e\u884c\uff08BoJ\uff09\u504f\u9df9\u6d3e\u7684\u300c\u6309\u5175\u4e0d\u52d5\u300d\u62c9\u4e0a\u95dc\u4fc2\uff08\u5373\u53e3\u5f91\u8f03\u5f37\u786c\uff0c\u4f46\u7dad\u6301\u5229\u7387\u4e0d\u8b8a\uff09\uff0c\u4f46\u4e0d\u9810\u671f\u6703\u5e36\u4f86\u9577\u671f\u8f49\u5411\u3002<\/p>\n

\u5831\u544a\u6307\u51fa\uff0c\u5168\u7403\u98a8\u96aa\u504f\u597d\uff08risk sentiment\uff0c\u5373\u6295\u8cc7\u8005\u8f03\u9858\u610f\u627f\u64d4\u98a8\u96aa\u3001\u8ffd\u9010\u9ad8\u56de\u5831\u8cc7\u7522\uff09\u4ecd\u504f\u5f37\uff0c\u4ee5\u53ca\u65e5\u672c\u300c\u8cbf\u6613\u689d\u4ef6\u300d\uff08terms of trade\uff0c\u5373\u51fa\u53e3\u50f9\u683c\u76f8\u5c0d\u9032\u53e3\u50f9\u683c\u7684\u8b8a\u5316\uff1b\u60e1\u5316\u4ee3\u8868\u7528\u66f4\u591a\u51fa\u53e3\u63db\u53d6\u540c\u6a23\u9032\u53e3\uff0c\u5c0d\u672c\u5e63\u4e0d\u5229\uff09\u8f49\u5dee\uff0c\u5747\u652f\u6301\u65e5\u5713\u8d70\u5f31\u3002\u5831\u544a\u4ea6\u63d0\u5230\u6700\u65b0IMM\u5831\u544a\uff08\u7f8e\u570b\u5546\u54c1\u671f\u8ca8\u4ea4\u6613\u59d4\u54e1\u6703CFTC\u6bcf\u5468\u6301\u5009\u6578\u64da\uff1b\u53cd\u6620\u5e02\u5834\u8cc7\u91d1\u62bc\u6ce8\u65b9\u5411\uff09\uff0c\u6307\u8fd1\u671f\u69d3\u687f\u57fa\u91d1\uff08leveraged funds\uff0c\u5373\u4f7f\u7528\u501f\u8cb8\uff0f\u884d\u751f\u5de5\u5177\u653e\u5927\u5009\u4f4d\u7684\u6295\u8cc7\u57fa\u91d1\uff09\u6b63\u91cd\u65b0\u5efa\u7acb\u300c\u6cbd\u65e5\u5713\u300d\u5009\u4f4d\uff08short yen positions\uff0c\u5373\u62bc\u6ce8\u65e5\u5713\u4e0b\u8dcc\uff09\u3002<\/p>\n

\u65e5\u5713\u58d3\u529b\u4ecd\u5728<\/h3>\n

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\u6587\u4e2d\u63d0\u5230\uff0c\u8ca1\u52d9\u5927\u81e3\u7247\u5c71\u5728\u65e5\u672c\u592e\u884c\u8b70\u606f\u6703\u8b70\u524d\u518d\u767c\u51fa\u8b66\u544a\u7a31\uff1a\u300c\u6211\u4e00\u76f4\u63d0\u5230\u5728\u6709\u9700\u8981\u6642\u63a1\u53d6\u679c\u65b7\u884c\u52d5\u3002\u300d\u88ab\u554f\u5230\u9ec3\u91d1\u5468\u5047\u671f\u6642\uff0c\u5979\u8868\u793a\uff1a\u300c\u6211\u5011\u5df2\u6e96\u5099\u597d24\u5c0f\u6642\u56de\u61c9\u3002\u300d<\/p>\n

\u6587\u7ae0\u88dc\u5145\uff0c\u7247\u5c71\u4ea6\u6307\u539f\u6cb9\u671f\u8ca8\u6ce2\u52d5\uff08volatility\uff0c\u5373\u50f9\u683c\u77ed\u671f\u4e0a\u843d\u5e45\u5ea6\uff09\u4ecd\u7136\u504f\u9ad8\uff0c\u88ab\u8996\u70ba\u52a9\u9577\u65e5\u5713\u7684\u6295\u6a5f\u6027\u6ce2\u52d5\uff08speculative moves\uff0c\u5373\u975e\u57fa\u65bc\u57fa\u672c\u9762\u3001\u4ee5\u77ed\u7092\u70ba\u4e3b\u7684\u8cb7\u8ce3\uff09\u3002\u6587\u7ae0\u7a31\u5167\u5bb9\u7531AI\u751f\u6210\u4e26\u7d93\u7de8\u8f2f\u5be9\u95b1\u3002<\/p>\n

\u606f\u5dee\u4e3b\u5c0e\u4ea4\u6613<\/h3>\n

\u4ea4\u6613\u7684\u4e3b\u8981\u63a8\u52d5\u529b\u4ecd\u662f\u7f8e\u65e5\u4e4b\u9593\u660e\u986f\u7684\u5229\u7387\u5dee\u8ddd\uff08rate differentials\uff0c\u5373\u5169\u5730\u653f\u7b56\u5229\u7387\u843d\u5dee\uff09\u3002\u5728\u7f8e\u570b\u806f\u90a6\u57fa\u91d1\u5229\u7387\u7dad\u6301\u5728\u7d043.75%\uff0c\u800c\u65e5\u672c\u592e\u884c\u5229\u7387\u96e3\u4ee5\u4f01\u7a69\u65bc0.25%\u4ee5\u4e0a\u7684\u60c5\u6cc1\u4e0b\uff0c\u300c\u501f\u5165\u65e5\u5713\u3001\u6295\u8cc7\u7f8e\u5143\u300d\u7684\u8a98\u56e0\u6975\u5927\uff08\u5373\u65e5\u5713\u878d\u8cc7\u5957\u5229\uff0ccarry trade\uff1a\u501f\u4f4e\u606f\u8ca8\u5e63\u8cb7\u9ad8\u606f\u8cc7\u7522\uff09\u3002\u9019\u7a2e\u57fa\u672c\u56e0\u7d20\u6301\u7e8c\u5c0d\u65e5\u5713\u69cb\u6210\u4e0b\u884c\u58d3\u529b\u3002<\/p>\n

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MUFG\u674e\u8d6b\u5fb7\u66fc\u6307\uff0c\u65e5\u5713\u514c\u7f8e\u5143\u77ed\u7dda\u53cd\u5f48\u6216\u5c6c\u66c7\u82b1\u4e00\u73fe\uff1b\u5728\u5e02\u5834\u7e8c\u770b\u6de1\u3001\u5f31\u52e2\u683c\u5c40\u672a\u6539\u4e0b\uff0c\u5347\u52e2\u6599\u9010\u6b65\u6d88\u9000\uff0c\u6295\u8cc7\u8005\u5b9c\u9632\u518d\u5ea6\u8f49\u5f31\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-46170","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\/wp-json\/wp\/v2\/posts\/46170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/comments?post=46170"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/46170\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=46170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=46170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=46170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}