{"id":46652,"date":"2026-05-04T23:31:47","date_gmt":"2026-05-04T23:31:47","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/46652\/"},"modified":"2026-05-04T23:31:47","modified_gmt":"2026-05-04T23:31:47","slug":"%e7%89%87%e5%b1%b1%e8%a1%a8%e7%a4%ba%ef%bc%8c%e6%97%a5%e6%9c%ac%e5%b7%b2%e6%ba%96%e5%82%99%e5%a5%bd%e5%9c%a8%e8%88%87%e7%be%8e%e5%9c%8b%e7%9a%84%e9%9b%99%e9%82%8a%e5%8d%94%e8%ad%b0%e6%a1%86%e6%9e%b6","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/46652\/","title":{"rendered":"\u7247\u5c71\u8868\u793a\uff0c\u65e5\u672c\u5df2\u6e96\u5099\u597d\u5728\u8207\u7f8e\u570b\u7684\u96d9\u908a\u5354\u8b70\u6846\u67b6\u4e0b\uff0c\u679c\u65b7\u61c9\u5c0d\u5916\u532f\u6295\u6a5f\u6027\u6ce2\u52d5"},"content":{"rendered":"

\u65e5\u672c\u8ca1\u52d9\u5927\u81e3\u7247\u5c71\u4e94\u6708\u5468\u4e00\u8868\u793a\uff0c\u6839\u64da\u53bb\u5e749\u6708\u8207\u7f8e\u570b\u9054\u6210\u7684\u96d9\u908a\u5354\u8b70\uff0c\u65e5\u672c\u5df2\u6e96\u5099\u5c31\u5916\u532f\u5e02\u5834\u7684\u6295\u6a5f\u6027\u8d70\u52e2\u63a1\u53d6\u679c\u65b7\u884c\u52d5\u3002\u4e0a\u8ff0\u8a00\u8ad6\u51fa\u73fe\u5728\u8ca1\u52d9\u7701\u8207\u65e5\u672c\u592e\u884c\u78ba\u8a8d\u65bc4\u670830\u65e5\u5165\u5e02\u8cb7\u5165\u65e5\u5713\uff08\u5373\u653f\u5e9c\/\u592e\u884c\u5728\u5e02\u5834\u76f4\u63a5\u8cb7\u5165\u65e5\u5713\u3001\u8ce3\u51fa\u7f8e\u5143\u4ee5\u652f\u6490\u65e5\u5713\u532f\u50f9\uff09\u5f8c\u7684\u7b2c\u4e8c\u500b\u4ea4\u6613\u65e5\u3002<\/p>\n

\u8a72\u8b66\u544a\u767c\u51fa\u4e4b\u969b\uff0c\u7f8e\u5143\u514c\u65e5\u5713\uff08USD\/JPY\uff0c\u5373\u4ee5\u65e5\u5713\u8a08\u50f9\u7684\u4e00\u7f8e\u5143\u50f9\u683c\uff09\u5728\u7531160.73\u9ad8\u4f4d\u56de\u843d\u5f8c\uff0c\u65bc\u7d04157.00\u9644\u8fd1\u5f98\u5f8a\uff0c\u5176\u5f8c\u53cd\u5f48\u6536\u5fa9\u7d04\u4e00\u534a\u8dcc\u5e45\u3002\u81ea\u4e0a\u5468\u4e94\u4ee5\u4f86\uff0c\u8a72\u8ca8\u5e63\u5c0d\u591a\u6b21\u5728157.00\u81f3157.50\u5340\u9593\u53d7\u963b\u3002<\/p>\n

\u5e72\u9810\u98a8\u96aa\u8207\u4f9b\u61c9\u93c8\u7126\u9ede<\/h3>\n

\u7247\u5c71\u4ea6\u63d0\u53ca\u65e5\u672c\u5728\u4e9e\u6d32\u4f9b\u61c9\u93c8\uff08\u8de8\u570b\u96f6\u90e8\u4ef6\u3001\u751f\u7522\u8207\u7269\u6d41\u7db2\u7d61\uff09\u9762\u5c0d\u7684\u98a8\u96aa\uff0c\u4e26\u628a\u65e5\u5713\u504f\u5f31\u8207\u88fd\u9020\u696d\u7af6\u722d\u529b\uff08\u51fa\u53e3\u5546\u4ee5\u5916\u5e63\u7d50\u7b97\u6536\u5165\u63db\u56de\u65e5\u5713\u6642\u7684\u6709\u5229\u7a0b\u5ea6\uff09\u9023\u7d50\u8d77\u4f86\u3002\u5831\u9053\u540c\u6642\u6307\u51fa\uff0c\u7531\u4f0a\u6717\u5c40\u52e2\u63a8\u52d5\u7684\u6cb9\u50f9\u3001\u504f\u9ad8\u7684\u9032\u53e3\u6210\u672c\uff0c\u4ee5\u53ca\u970d\u723e\u6728\u8332\u6d77\u5cfd\uff08\u5168\u7403\u91cd\u8981\u77f3\u6cb9\u822a\u9053\uff09\u53ef\u80fd\u51fa\u73fe\u5c01\u9396\u7b49\u56e0\u7d20\uff1b\u53e6\u63d0\u5230\u9ec3\u91d1\u5468\u5047\u671f\u671f\u9593\u5e02\u5834\u6d41\u52d5\u6027\u504f\u8584\uff08\u6210\u4ea4\u91cf\u8f03\u5c11\u3001\u50f9\u683c\u66f4\u6613\u5927\u5e45\u6ce2\u52d5\uff09\uff0c\u6b64\u524d\u5468\u56db\u5df2\u88ab\u8996\u70ba\u7576\u5c40\u53ef\u80fd\u518d\u51fa\u624b\u7684\u6642\u9593\u7a97\u53e3\u3002<\/p>\n

\u81ea\u5468\u56db\u4ee5\u4f86\uff0cUSD\/JPY\u572824\u5c0f\u6642\u5167\u6536\u5fa9\u63a5\u8fd1\u4e00\u534a\u7684\u5e72\u9810\u8dcc\u5e45\uff0c\u4f46\u6bcf\u6b21\u9760\u8fd1157.50\u5747\u88ab\u62d2\u65bc\u9580\u5916\u3002\u5831\u9053\u4ea6\u5f62\u5bb9\u532f\u50f9\u9593\u6b47\u6027\u4e0b\u63a2\u81f3155.50\u9644\u8fd1\uff0c\u4e26\u63d0\u51fa157.50\u6216\u5df2\u6210\u70ba\u7576\u5c40\u53ef\u80fd\u63a1\u53d6\u884c\u52d5\u7684\u95dc\u9375\u6c34\u5e73\u3002<\/p>\n

\u6771\u4eac\u518d\u5ea6\u767c\u51fa\u8b66\u544a\uff0c\u610f\u5473\u672a\u4f86\u6578\u5468\u7f8e\u5143\u514c\u65e5\u5713\u7684\u9ad8\u6ce2\u52d5\u5c07\u6210\u70ba\u5e02\u5834\u4e3b\u8981\u8b8a\u6578\u3002\u5e02\u5834\u7126\u9ede\u6216\u8f49\u5411\u671f\u6b0a\uff08options\uff0c\u7528\u65bc\u5728\u672a\u4f86\u4ee5\u7279\u5b9a\u50f9\u683c\u8cb7\u5165\u6216\u8ce3\u51fa\u8cc7\u7522\u7684\u5408\u7d04\uff09\u7b56\u7565\uff0c\u4ee5\u628a\u63e1\u6025\u5287\u6ce2\u52d5\uff0c\u800c\u975e\u62bc\u6ce8\u55ae\u908a\u8da8\u52e2\u30021\u5468\u96b1\u542b\u6ce2\u52d5\u7387\uff08implied volatility\uff0c\u671f\u6b0a\u50f9\u683c\u53cd\u6620\u5e02\u5834\u5c0d\u672a\u4f86\u6ce2\u5e45\u7684\u9810\u671f\uff09\u5df2\u5347\u7a7f15%\uff0c\u70ba2024\u5e74\u521d\u5e02\u6cc1\u52d5\u76ea\u4ee5\u4f86\u7f55\u898b\uff0c\u986f\u793a\u4ea4\u6613\u54e1\u6b63\u9632\u5099\u518d\u73fe\u7a81\u767c\u8d70\u52e2\u3002<\/p>\n

\u5728157.50\u6210\u70ba\u660e\u986f\u963b\u529b\u4f4d\uff08\u532f\u50f9\u4e0a\u884c\u53d7\u58d3\u7684\u50f9\u683c\u5340\u9593\uff09\u4e0b\uff0c\u8ce3\u51fa\u77ed\u671f\u671f\u6b0a\u7684\u7f8e\u5143\u514c\u65e5\u5713\u8cb7\u6b0a\uff08call options\uff0c\u8ce6\u4e88\u8cb7\u5165\u7f8e\u5143\u514c\u65e5\u5713\u7684\u6b0a\u5229\uff09\u4e26\u628a\u884c\u4f7f\u50f9\uff08strike\uff0c\u5373\u53ef\u4ea4\u6613\u7684\u9810\u5148\u7d04\u5b9a\u50f9\u683c\uff09\u8a2d\u65bc\u8a72\u5340\u4e0a\u65b9\uff0c\u53ef\u4f5c\u70ba\u6536\u53d6\u6b0a\u5229\u91d1\uff08premium\uff0c\u8ce3\u51fa\u671f\u6b0a\u5373\u6536\u53d6\u7684\u8cbb\u7528\uff09\u7684\u505a\u6cd5\u3002\u671f\u6b0a\u5e02\u5834\u4ea6\u53cd\u6620\u76f8\u95dc\u53d6\u614b\uff1a\u98a8\u96aa\u9006\u8f49\uff08risk reversals\uff0c\u901a\u5e38\u6bd4\u8f03\u540c\u671f\u9650\u770b\u6f32\u8207\u770b\u8dcc\u671f\u6b0a\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u5dee\uff0c\u7528\u4ee5\u8861\u91cf\u5e02\u5834\u504f\u597d\uff09\u986f\u793a\u504f\u5411\u65e5\u5713\u770b\u6f32\u671f\u6b0a\uff08yen calls\uff0c\u5373\u62bc\u6ce8\u65e5\u5713\u8d70\u5f37\/\u7f8e\u5143\u514c\u65e5\u5713\u4e0b\u8dcc\uff09\u7684\u50be\u659c\u5ea6\u70ba\u903e\u4e00\u5e74\u6700\u5927\uff0c\u4ee3\u8868\u6295\u8cc7\u8005\u70ba\u4e0b\u884c\u4fdd\u8b77\uff08\u5c0d\u6c96\u7f8e\u5143\u514c\u65e5\u5713\u4e0b\u8dcc\u98a8\u96aa\uff09\u4ed8\u51fa\u66f4\u9ad8\u6210\u672c\u3002\u9019\u53cd\u6620\u5728\u6574\u9ad4\u8da8\u52e2\u4ecd\u504f\u5411\u7f8e\u5143\u4e4b\u969b\uff0c\u5e02\u5834\u540c\u6642\u91cd\u8996\u7576\u5c40\u5e72\u9810\u7684\u5373\u6642\u5a01\u8105\u3002<\/p>\n

\u5373\u4f7f\u57fa\u672c\u56e0\u7d20\u4ecd\u652f\u6301\u7f8e\u5143\u504f\u5f37\uff0c\u4e0a\u8ff0\u5f37\u786c\u7acb\u5834\u4f9d\u7136\u51fa\u73fe\uff1a\u7f8e\u65e5\u606f\u5dee\uff08interest rate differential\uff0c\u5169\u5730\u653f\u7b56\u5229\u7387\u4e4b\u5dee\uff0c\u5f71\u97ff\u8cc7\u91d1\u6d41\u5411\uff09\u4ecd\u9ad8\u65bc525\u500b\u57fa\u9ede\uff08basis points\uff0c1\u500b\u57fa\u9ede=0.01%\uff09\u3002\u4e0a\u5468\u7f8e\u570b\u901a\u8139\u6578\u64da\u4ecd\u7136\u504f\u9ad8\uff0c\u4ee4\u806f\u5132\u5c40\u672a\u6709\u91cb\u51fa\u8f49\u5411\u8a0a\u865f\u3002\u9019\u4ee4\u5f37\u52e2\u7684\u8ca8\u5e63\u653f\u7b56\u56e0\u7d20\uff0c\u8207\u65e5\u672c\u592e\u884c\u76f4\u63a5\u5165\u5e02\u7684\u5e72\u9810\u529b\u5ea6\u5f62\u6210\u62c9\u92f8\u3002<\/p>\n

\u6b77\u53f2\u8def\u7dda\u8207\u8de8\u5468\u532f\u7387\u653b\u9632<\/h3>\n

\u53ef\u53c3\u80032022\u5e74\u672b\u7684\u5e72\u9810\u7d93\u9a57\uff1a\u7576\u6642\u9700\u8981\u591a\u8f2a\u8cb7\u5165\u65e5\u5713\uff0c\u624d\u4ee4\u5e02\u5834\u51fa\u73fe\u8f03\u660e\u986f\u7684\u626d\u8f49\u3002\u4eca\u6b21\u6216\u975e\u4e00\u6b21\u6027\u4e8b\u4ef6\uff0c\u800c\u662f\u570d\u7e5e\u532f\u7387\u6c34\u5e73\u7684\u8de8\u5468\u653b\u9632\u3002\u628a\u5e72\u9810\u91cd\u65b0\u5305\u88dd\u70ba\u300c\u4fdd\u885b\u4f9b\u61c9\u93c8\u300d\uff0c\u4ea6\u70ba\u7576\u5c40\u63d0\u4f9b\u66f4\u5145\u8db3\u7684\u653f\u7b56\u8207\u653f\u6cbb\u7a7a\u9593\uff0c\u4ee5\u4fbf\u6301\u7e8c\u884c\u52d5\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u7247\u5c71\u7a31\uff0c\u65e5\u672c\u5df2\u5099\u59a5\u5728\u7f8e\u570b\u96d9\u908a\u5354\u8b70\u6846\u67b6\u4e0b\u679c\u65b7\u51fa\u624b\uff0c\u72d9\u64ca\u5916\u532f\u6295\u6a5f\u6ce2\u52d5\uff1b\u5e02\u5834\u7dca\u76ef\u65e5\u5713\u8d70\u52e2\u8207\u653f\u7b56\u8a0a\u865f\uff0c\u5e72\u9810\u9670\u973e\u518d\u73fe\uff0c\u6ce2\u5e45\u6216\u6025\u64f4\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-46652","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\/46652","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=46652"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/46652\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=46652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=46652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=46652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}